The euro is still weaker against the dollar this morning as worries about the state of the European economy continue.
The consumer climate indicator for Germany was released this morning, which is a questionnaire focusing on income expectations, buying propensity and savings. The survey registered its lowest reading on record due to war in Ukraine leading to soaring costs for households. Any hopes of a post-pandemic recovery have been thwarted as a result.
President of the European Central Bank, Christine Lagarde, will speak later today ahead of the ECB’s annual report tomorrow.
