020 7898 0500The Euro suffered weakness at the end of last week losing ground against both the US dollar and sterling as US employment data supported the former and the surprise UK election result boosted the latter.
Looking to this week, important Eurozone data begins with the Eurogroup meeting on Monday, where the top finance ministers will discuss the bloc’s economic policy and Greece’s latest proposals. Greece could default on a €750 million repayment to the International Monetary Fund (IMF) due on Tuesday, unless their bailout conditions are relaxed. It remains to be seen if the IMF will relent. The situation is uncertain for Greece, and for the Eurozone on the whole.
Wednesday sees preliminary growth data released for the Eurozone as a whole, which is expected to show a slight improvement, and for individual countries such as Germany, which is forecast to be slightly lower than before. This could potentially see the euro weaken further.
