020 7898 0500Wednesday was a steady day for the euro as it remained marginally flat against the US dollar, gaining ever so slightly, and enjoyed another positive day against sterling. This was assisted by positive data from the Eurozone, as services purchasing managers’ index (PMI) rose to 54.2 in December from 53.9 – especially given this result was forecast to be unchanged. This gave the single currency another slight lift, particularly against sterling.
Another busy day may well lie ahead for the single currency, with manufacturing orders out from Germany this morning; these are expected to drop sharply from 1.8% to 0.1%. At 10am we have the release of both consumer confidence and unemployment data from the Eurozone; confidence is to rise slowly from -5.9 to -5.7, whilst unemployment is likely to remain at 10.7%.
