On Friday, the common currency stood unchanged against the US dollar. So, the currency pair traded at 1.1160 during the European session. The US is expected to issue its FinalGDP for the fourth quarter. Market analysts already give it 1%.
This week the EU’s locomotive, Germany, issued a bunch of crucial economic indicators. German PMI appeared to be mixed. It pointed out to quite moderate expansion in the services sector, though the manufacturing industry showed no growth, following China’s slowdown.
Ifo Business Climate demonstrated a 106.7 point improvement, thus beating expectations. Additionally, ZEW Economic Sentiment rose to 4.3 points, though it turned insufficient compared to a 6.3 point forecast. German Consumer Climate sagged 9.4 points, fitting expectations.
In addition to this, on Thursday, the ECB announced its Long Term Refinancing Option. The given lending program is aimed at bolstering the EU economy by simply raising bank lending to the real economy. By the way, the actual take-up of EU banks appeared to be gloomy – just EUR 7.3 billion, compared to expected 24.3 billion.