The euro is weak against the pound and stronger against the dollar this morning ahead of a series of data releases. Services, manufacturing and composite PMI figures will be released later today, with services expected to drop into contraction territory.
This will be followed by sentiment figures on Friday, which measure confidence levels amongst consumers and manufacturers. This Thursday, the ECB will release minutes from its October Monetary Policy meeting, which will likely pave the way for more stimulus in December.
The EU’s economic recovery package is still being held up by objections from Hungary and Poland. This was due to be implemented in January but will now be delayed.
