This is a busy morning for economic releases, and the markets will be looking forward to the ZEW economic sentiment figures for Germany and the Eurozone. At first sight, both might seem poor, forecast to come in below 50, but it is an increase on last month – perhaps a sign of slight optimism as the first, tentative steps to easing lockdown measures come into place.
Nonetheless, the big uncertainty this week is still Thursday’s Eurogroup meeting, particularly after Emmanuel Macron re-raised his call for ‘coronabonds’ this weekend. The issue has proven divisive thus far, with Germany, the Netherlands, Finland and Austria opposed to the measures. Germany has shown some signs of compromise, but the Dutch government has yet to agree to budge.
