020 7898 0500Monday was an uneventful day for the euro, with the single currency weakening slightly against sterling and staying almost unchanged against the US dollar. The only major piece of data was German industrial production data; released early in the morning, this came out worse than expected at 0.7% (compared to the forecast 1%). This pushed the bar forward for the euro to slowly weaken against sterling as the day went on – although other than this, it was an extremely quiet day.
Tuesday is likely to be more eventful day however; Eurozone Gross Domestic Product (GDP) will be released this morning – and this is forecast to drop slightly from 0.4% to 0.3%. This will be the main release of the day, but there will also be less important trade balance figures from Germany and France.
