The euro is still weaker against the dollar but stronger against the pound today.
We’ve just seen Germany’s balance of trade data this morning . The trade surplus in Germany sharply declined to €0.6bn, the lowest surplus since 1992 and disappointing markets who expected €7.3bn. This marks another decline following a decline to 4.9bn in July from €17.8bn the previous year.
Eurozone markets have also seen S&P global services PMI data from Spain, Italy, France, Germany (eurozone will be released at 9am).
Later this evening Spain’s consumer confidence data for August and September will also be released. The August index is forecast at 54.3 pointing to even lower levels of consumer confidence following July’s drastic drop from 65.8 to 55.5. If today’s data comes in as expected, this will mark the lowest index since March.
