020 7898 0500The euro weakened against sterling following the release of some more disappointing economic data. Eurozone construction output grew by 0.8% in March, but this was well below the 2.2% growth the markets had been expecting.
Meanwhile, French President, Emmanuel Macron waded into the Iran deal debate, saying that the European Union needs to protect companies who want to continue trading with Iran. In a speech he delivered at a EU summit in Sofia, Bulgaria, Macron supported a proposal for the EC to protect and compensate companies who are hit with US sanctions. More problems created by Trump’s volatility and a situation that threatens to drag on for some time to come.
Today we have the eurozone’s balance of trade for March which is expected to significantly increase from a €18.9 billion surplus to a €27.9 billion surplus. That would be extremely positive for the eurozone and certainly welcomed given recent economic data releases.
