The euro hit almost a month’s high earlier yesterday, after the UK revealed that it would contemplate returning to WTO terms if a broad outline of a deal had not been agreed by June.
In a less positive sign, French GDP growth figures entered negative figures quarter-on-quarter, according to this morning figures. Later today, we have German and Italian inflation figures.
However, European business confidence came in much better than expected yesterday. While still in the negative, it showed a significant uptick from -0.19 to -0.04, and much better than the expected -0.28. Economic and industrial sentiment also both improved unexpectedly.
