020 7898 0500The euro had another positive day on Wednesday but this was largely down to US dollar weakness rather than any strength in the Eurozone. In the morning, Purchasing Managers’ Index (PMI) data from the continent beat expectation slightly to come out at 53.6, rather than 53.5; overall this was still lower than last month. The interest expectation for the US is that we will see further interest hikes this year, but for the euro this is the opposite. However, with further US interest rates now seemingly less certain, this will have a positive impact on the single currency’s relationship with the US dollar.
There is no significant data out for any area of the Eurozone today but any further disappointing data from elsewhere could once again have another positive impact on the single currency.
