020 7898 0500At Thursday’s European Central Bank (ECB) meeting, interest rates were left unchanged and its President Draghi suggested that further stimulus measures will be taken in December if the economic situation in Europe does not improve. This had a significant effect on the euro as it weakened across the board.
This may well have been the intention of the ECB as the key Eurozone data release later this week are the inflation figures for the individual members of the Eurozone and for the Eurozone itself and given the ECB is very worried that inflation continues to hover around 0%. We also have unemployment figures which are expected to hold at 11%. The ECB is also worried about falling Eurozone exports, especially German exports into China, so any euro weakness should be helpful in boosting these.
