020 7898 0500The euro had a mixed day on Thursday but overall has performed well this week as it strengthened significantly against the US dollar and euro. Against sterling the single currency pushed to fresh 21-month high with the uncertainty surrounding the EU Referendum continuing to have a damaging effect on the UK currency. With weakness from the US dollar after as 9-1 vote to keep US interest rates within a band of 0.25%-0.5%, the euro managed to reach five-month highs against its biggest trading partner. Thursday saw some of these gains erased but overall the single currency remains heavily on top.
Trade balance data from Germany is released this morning and is expected to fall from €18.8 billion to €18.5 billion. Industrial production is our for France which is anticipated to fall from 1.3% down to -0.4%. The market again though is more likely to be driven by sentiment.
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