While attention was turned to the 2017 Autumn Budget, the eurozone’s consumer confidence flash indicator for November was released. It was expected to come in at -0.8, but it was actually 0.1, making it the strongest reading since January 2001. It really is quite an impressive reading and the UK’s budget should not take too much attention from that.
The euro made some gains against both the dollar and sterling on the back of the news, while the European Central Bank held their non-monetary policy meeting. All in all, another good day at the office for eurozone economic data.
Today we’ll get the Markit manufacturing purchasing managers’ index reading, as well as the services and composite figures. There will also be a raft of PMI data from the eurozone, as well as a couple of speeches from ECB members.