Christine Lagarde made her first major speech since taking up post at the ECB, calling on a ‘European renewal’, in which Europe needs to reposition itself amid a climate of global uncertainty. She acknowledged the ‘persistent’ uncertainty impacting the eurozone, but failed to provide the hints of future policy direction that observers had hoped for.
German business climate figures are expected this morning, forecast to show a slight increase. We will likely see further movement on Thursday, with a raft of economic releases set to come out. Eurozone business and consumer confidence are both expected to remain negative, as is industrial sentiment.
