Low figures for the Eurozone push the single currency down on Wednesday – will the big news today combat this?

Wednesday was a disappointing day for the euro as it finally lost ground against both the US dollar and sterling. Producer Price Index figures were released at figures slightly worse than expected which didn’t help the euro, but much of this lost ground was due to falling oil prices and the rising instability of the global economy.

Today could be an important day for the single currency; firstly business sentiment from France is released and expected to tick up slightly from 102 to 103, but, crucially, at 12.45pm we will have an the interest rate announcement for the Eurozone, followed by Mario Draghi speaking. Investors will also be listening closely to this, to see if any hints are given on his opinion of how the amended Quantitative Easing (QE) programme is working, and if the Eurozone economy is heading in the right direction.