020 7898 0500The euro had another mixed day on Tuesday as it lost ground against sterling but put pressure on the US dollar. The main news was from Germany as ZEW German business confidence data, forecast at 8.2, exceeded expectations at 11.2. This made an impression against the US dollar, moving up for the second day in a row and erasing the losses seen last week. Against sterling, however, the opposite trend was seen as UK polls came out better than expected for the ‘stay’ vote, which affected the single currency.
Today Producer Price Index (PPI) data from Germany is expected to move back to a positive figure from -0.5% up to 0.2%. Other than this a quieter day is expected from the Eurozone.
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