Greece situation continues to affect the euro – could today be the day?

It was a day of mixed fortunes for the euro on Tuesday, as it rose to highs against the US dollar, but fell against sterling – however, this was largely driven by other forces in the market, as poor US retail sales hurt the US dollar; and sterling was positively affected by Mark Carney’s thoughts about interest rates. Investors were also waiting to see the Greek reaction to the incredibly harsh austerity measures being demanded by the European creditors to help ensure that they do not need leave the Eurozone.

Coming up today, we have Consumer Price Index (CPI) data from France, which will make a significant contribution to Thursday’s CPI data for the Eurozone as a whole. The big news today, however, as ever, involves Greece – as we are now at the deadline for their parliament to pass the austerity measures.