GBP/EUR: Euro In Focus Ahead Of Barrage Of Data Releases

The Pound Euro (GBP/EUR) exchange rate is holding steady after steep falls last week.

The Pound dived last week after the BoE left interest rates on hold, defying expectations of an interest rate rise. The disappointment sent sterling tanking lower.

This week is a much quieter week on the UK economic calendar, with just third quarter GDP expected to attract attention.

The Euro advanced last week despite disappointing economic data from both Germany and the Eurozone as a whole.

German industrial production unexpectedly contracted 1.1% when analysts had forecast growth of 1%. Separately Eurozone retail sales fell 0.3% defying expectations of a 0.3% increase.

There is no high impacting Eurozone data today. German ZEW sentiment data will be in focus tomorrow.