020 7898 0500The euro has had mixed fortunes this week, performing well against sterling and staying fairly level against the US dollar as the week comes to a close. Interestingly, the release of minutes from the European Central Bank’s December meeting on Thursday showed that some policymakers called for deeper interest rate cuts but this did not have the negative impact one might have expected, leaving the single currency well supported. The Gross Domestic Product (GDP) figures from Germany were also released yesterday – and the news that this had performed slightly above expectation (1.7%) ensured some support for the euro, particularly against the US dollar.
Today final Consumer Price Index (CPI) data is out from Italy, and this is expected to tick up from -0.4% to -0.1%. This shows signs that the quantitative easing program is working.
