The Pound Euro (GBP/EUR) exchange rate is holding steady after steep losses in the previous week.
The Pound dived 0.9% lower last week after softer than forecast CPI inflation and after retail sales unexpectedly fell in July by -2.5%. Analysts had expected sales to rise 0.4%.
Today all eyes are on PMI data for both the service sector and the manufacturing sector. Both are expected to remain firmly in expansion but for the expansion to slow slightly.
The Euro will also be looking towards PMI data for both services and manufacturing. The composite PMI, a good gauge for business activity is expected ease to 59.7 in August, down from 60.2 in July.
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