020 7898 0500The euro made some significant gains against the pound yesterday following reports that 40 Conservative MPs had agreed to sign a letter of no confidence in Theresa May. The markets see it as an unwelcome distraction to the Brexit negotiations which are still only really plodding along.
Against the dollar, the single currency made some losses but these were very slight. German wholesale prices came in slightly lower than expected, but, otherwise, it was a quiet day. Today sees the release of GDP growth data from Germany and the eurozone, and the German ZEW economic sentiment index will also be released. It is a survey of up to 300 businesses from the eurozone’s largest economy, and is seen as a key indicator of business confidence.
On Thursday, the eurozone will release its inflation rate and on Friday we’ll see the construction output for September.
