Euro has begun the day up against the pound, as German industrial production reversed the trend of shrinking from the past two months, re-entering positive figures. It’s a positive sign for the markets, particularly as the sector has been one of the more problematic in recent times. The markets will be watching over the coming months to see if this is a continued trend.
Current account figures for the eurozone’s largest economy also came in much better than expected. Tomorrow will see no figures from the eurozone released, but we can expect continued political speculation to have an effect.
Ursula von der Leyen told the media on Wednesday that a comprehensive trade deal would be ‘impossible’ by the end of the transition period, but she reiterated that the UK and EU would remain ‘best of friends’ and that the ‘bonds between us will still be unbreakable’. However, how much progress this translates into in practice remains to be seen.
