Euro was up slightly against the pound yesterday, after polls showing the gap in support between the UK’s Conservative and Labour parties narrowing in the upcoming election. Today, the European Parliament will vote on the new European Commission as one, having already held a hearing with each individual commissioner. If it is approved, the Commission will begin work on 1st December.
Today is another quiet day for economic releases, so we can expect any movement to be largely influenced by political happenings. This morning, we did have French consumer confidence, which came in slightly above expectations, and for Italy, which came in just below forecasts. On Thursday, we will see data releases pick up with Eurozone business confidence and economic, industrial and services sentiment. We’ll also see German and Spanish inflation figures.
