020 7898 0500It was a fairly steady day for the euro as sentiment remained poor – continuing the theme for the whole week. The situation remains fragile, as a deadlock between Greece and its lenders continued ahead of the approaching deadline for Greece’s repayments to the International Monetary Fund (IMF). Its creditors are still demanding that Greece make spending cuts in order to secure a fresh deal, and unlock €7.2 billion in bailout funds – preventing Athens from defaulting on its debts in the short term. The bailout agreement is still set to expire at the end of the month, and time will soon run out for Greece to strike a deal.
Earlier this morning we have German Producer Price Index data, which is forecast to improve from last month’s figure. At 9am, we have balance of payments and the European Central Bank’s (ECB) net investment flow, but aside from this there will be very little data until next week.
