A very light euro area data and event calendar this week is unlikely to stem recent EUR losses, says Barclays Capital.
"We and consensus forecast final February headline and core HICP inflation (Tuesday) to be confirmed at -0.3% y/y and 0.6% y/y, respectively, supporting the ECB’s recently expanded asset purchase programme," Barclays projects.
"The EU summit (Thursday) may also gain some attention as the situation in Greece is likely to be a topic for discussion, at least on the sidelines. However, we do not expect any major decision. First, the Greek government, in collaboration with the Troika, will have to prepare a comprehensive medium-term macroeconomic framework clearly identifying the reform agenda and any fiscal funding gaps. Current funding pressures should encourage Greece to accelerate its efforts in this regard," Barclays adds.