Euro weakened this morning as the ECB meeting notes showed an increased likelihood of a rate cute. The accounts said that the governing council was in ‘broad agreement’ that there is a need to be ‘prepared to ease the monetary policy stance further’. With a global slowdown, trade tensions possible between the EU and US and the uncertainty around Brexit, the minutes highlight the prospect of ‘weaker growth ahead’.
Today, we will see industrial production figures for the eurozone, expected to show a dip year-on-year – not good news for the EU, but likely already priced in. We will also see a raft of important releases from China, which could impact the eurozone.
