We have had a fairly quiet start to the trading week for European economic data and without any major political news so far today the Euro has remained fairly stable.
Tomorrow is fairly similar in terms of data from the Eurozone, but key inflation data from the U.K tomorrow morning may lead to volatility for the EUR/GBP pairing, especially after news from the Bank of England last week that they may plan to hike exchange rates again before the end of the year.
Wednesday is when everything starts to heat up for those looking to exchange Euros in the coming days as we have the release of European GDP (Gross Domestic Product data) which is essentially growth figures for the area in the last quarter of 2017. A positive figure may give the Euro strength and a negative figure could weaken Euro exchange rates, expectations are for 0.6% growth for the quarter so any change to this may bring volatility, the release is at 10:00am.
Throughout the day there are a few members of the European Central Bank speaking and also Boris Johnson is due to speak about Brexit in the U.k too so be poised for fairly sharp rate movements should there be any hints dropped about Brexit progress.
Thursday we also have numerous members of the European Central Bank speaking too, and these are precisely the kind of things to be wary of, as any comments of future fiscal policy or Brexit can lead to market movements without warning too.
Mid-morning we have Trade balance figures for the Eurozone which is the main data release of the day, I feel that focus will remain on the ECB and Brexit though for Thursday.
Friday is once again fairly quiet for data, but Fridays rarely are quiet in terms of market movements as we tend to see traders and institutions net of their positions from the trading week.
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