Euro is down against the pound this morning after a series of poor data releases. Construction has shrunk across the eurozone, with a particularly sharp drop to almost 0 in France and Italy. Luis de Guindos has used his speech presenting the European Central Bank’s annual report to re-highlight that the central bank considers that governments must take fiscal action in addition to its own programme.
Tomorrow, we will see a number of key figures, including German balance of trade. The Eurogroup will also meet again by video conference, in the hope of finding an agreement on a second coronavirus economic rescue package.
