Euro ended the week up against the pound and hit a one month high against the dollar this morning. France’s Europe Minister, Amélie de Montchalin, warned yesterday that the EU would not sign ‘any’ deal due to ‘artificial deadlines’, and would be prioritising ‘substance’ over time limits.
The first details of what and when will be discussed have been published, saying that full negotiating rounds will take place every two to three weeks, alternating between London and Brussels. The first round is to take place on 2nd March to 5th March, and then 18th March to 20th March. A number of negotiating groups have been established, dealing with areas ranging from trade in goods to level playing fields, energy and nuclear cooperation, law enforcement and governance.
German inflation increased in February, whilst the number of jobless claims fell more than expected. This morning has so far seen manufacturing PMI come in with a slight upswing for the Eurozone and Germany, whilst Italy and France showed a slight drop from the previous readings. Later on, we will see Italian GDP growth.
