020 7898 0500The only economic data release of note from across the UK, Europe and America was the German industrial production figures for August. Economists had expected the figure to jump to a 0.4% increase from an upwardly revised 1.3% the previous month. However, the figure actually showed production fell by 0.3% which was extremely disappointing.
The euro traded sideways against the sterling throughout the day, but it weakened against the dollar to fall below $1.15 once again. The euro has now lost almost three cents against the dollar since 25 September 2018 and is showing no real signs of recovery at the moment. Trade war fears have played their part, as investors look for safe havens in times of trouble and the dollar is one of those safe havens.
Today we will see the balance of trade figures from Germany for August, while tomorrow is the European Central Bank’s latest non-monetary policy meeting.
