020 7898 0500The euro ended last week strongly on the announcement from the Greek Economy Minister that Greece expects to repay the first part of their International Monetary Fund (IMF) loans due on June 5th.
This week sees a flow of key data releases from the Eurozone plus the European Central Banks (ECB) interest rate decision on Wednesday. Today we kick off with the May Eurozone purchasing managers index for Manufacturing which is expected to show continued growth, benefitting from the gradual economic recovery, a weakened euro and the ECB’s programme of quantitative easing beginning to help. We also have today inflation data from Germany which is expected to be in positive territory.
The interest rate decision by the ECB is very much expected to be one of no change but the markets will be very interested to see what its President says in the post meeting press conference about the state of the Eurozone and, perhaps more importantly, the state of the discussions with Greece on their debt restructuring.
