After a week of relatively strong performance, euro ended the week down against the pound following the UK’s rate cut. This afternoon, we will see Eurozone consumer confidence figures, expected to show a significant drop in the currency climate.
The European Central Bank has little room to manoeuvre on interest rate cuts, but, after intense criticism from some quarters for its response to the coronavirus crisis, launched on Thursday a further €750 billion worth of quantitative easing in an attempt to boost the economy.
The move followed the biggest slump in German business confidence since records began and significant fears over the economies of locked-down countries, especially Italy.
Tomorrow, we will see French, German and Eurozone PMI data and, on Thursday, French and German consumer confidence figures.
