By Francesco Pesole, FX Strategist and Petr Krpata, Chief EMEA FX and IR Strategist
EUR: A small step above 1.12
The positive spillover effect of UK election into EUR/USD seems to have worn off. As we head to the Christmas holidays, the week ahead presents a few interesting events and releases. In the eurozone, the PMIs are published today and in line with consensus we're expecting another tick-up in the manufacturing numbers. However, our economists see the risk of a weaker services reading, which may partly offset the positive market impact. The IFO Institute indicators