020 7898 0500The euro weakened once more against the dollar yesterday following some positive news in the US vs. China trade battle. For now, it looks as if Trump has blinked first and investors have taken that as a positive. The dollar’s moves were also likely helped by positive economic data from the US and, with no releases from the eurozone, there was nothing to counteract the effects.
Today could be a different story though, with several pieces of data from across Germany and the eurozone on the schedule. We’ll see Gfk consumer confidence and the inflation rate from Germany, while in the eurozone we have services, economic and industrial sentiment. We will also see business and consumer confidence.
Trade tensions have certainly affected confidence across the eurozone of late and while it is unlikely that yesterday’s events will have eased this confidence just yet, we might have turned a corner.
