020 7898 0500Thursday was an unusual day for the euro; poor Purchasing Managers Index (PMI) data came out worse than expected, but the single currency managed to push higher against the US dollar, after downbeat US jobless claims and new home sales data put a large dent in the demand for the American currency. Another disappointing report for Spain’s unemployment rate showed a rise to 23.8% in the first quarter of this year, from 23.7% in the three months to December. This rounded off a less than positive week for the euro as it continued to wobble particularly against sterling when previously it had started to show small signs of recovery.
Today see more German data; at 9am there will be IFO business sentiment data, and this is expected to improve slightly from 107.9 to 108.4.
