EUR: Light data calendar keeps spotlight on Greece

Greece will remain the focus this week in the context of a very light data calendar and continued political uncertainty should weigh on the EUR. 

The consensus expect further improvement in money growth to 4.9% y/y in April from 4.6% previously as a result of loose monetary policy. 

Preliminary May inflation numbers will start to come in for some individual countries on Friday. 

"We expect preliminary consumer prices in Italy and Spain to rise 0.2pp in May to +0.1% y/y (consensus: 0.1%) and -0.5% y/y (consensus: -0.6%), respectively", said Barclays in a report on Monday.