020 7898 0500The euro has had a difficult week. The week started badly with the decline in Germany’s influential ZEW business confidence data, falling to its weakest level in more than a year. This reinforced an ever-growing and substantial case for the European Central Bank (ECB) to alter its monetary policy at their next meeting in March, a case which seemed to be supported by the minutes of their last meeting in January released yesterday. We also have the two day meeting of European leaders taking place with detailed discussions on migrants and the UK’s terms of membership high on the agenda and causing uncertainty.
On Friday afternoon consumer confidence data is out from the Eurozone. This is expected to fall from -6.3 to -6.7, a worrying sign for the European economy as this remains an important figure for European investors.
