020 7898 0500Germany’s economy has been holding up fairly well of late, despite ongoing trade tensions with the US. Yesterday, however, we learned that Gfk consumer confidence in September fell unexpectedly. The markets had been expecting the reading to hold steady at 10.6, but it dipped to 10.5. It is the second month in a row that the figure has fallen and is the lowest reading since June 2017.
The euro ended the day where it started against the dollar, despite some intraday movements. Against sterling, it was a different story. The pound rallied following comments made by Barnier which appeared to increase the chances of a Brexit deal.
Today is extremely busy for the eurozone, with the unemployment and inflation rates from Germany on the schedule, as well as business confidence and economic, services and industrial sentiment from the eurozone. It will be interesting to see what the figures show, especially in light of the recent trade tensions.
