020 7898 0500The euro saw a reasonable amount of movement through the day on Friday. It lost ground against the dollar thanks to the positive US Non-farm payroll figures, but the main event of the day was the news that Greece had delayed their debt payment to the IMF – despite the ongoing positivity surrounding the negotiations throughout the week. This did not have as much affect as it could have been though – and the matter will no doubt be discussed at today’s G7 meeting.
Aside from this, we have a relatively quiet week ahead in terms of Eurozone data releases with Germany releasing some industrial production data today, the second estimate of growth figures for the Eurozone tomorrow, no change is expected, and from Wednesday onwards France releases Aprils manufacturing, industrial production and Mays inflation data. Moving forwards it looks as though the Greek debt payment will be the deciding factor on the short term fate of the euro – we will just have to wait and see.
