The euro took a brief knock yesterday as President Trump announced that the US would be placing more tariffs on EU goods. The US said it is considering placing tariffs on $3.1BN worth of exports from the European Union – including the UK.
This is part of an ongoing dispute between the two nations, which resulted in the WTO allowing the US to impose tariffs on the EU last year. It could pave the way for an ongoing tit-for-tat trade war, similar to the US-China dispute.
The German consumer confidence index was released this morning, coming in at -9.6. This beat expectations of -12 and showed that both economic and income expectations improved, as well as propensity to buy, following the gradual lifting of restrictions.
