The euro is strong against the pound this morning and weaker against the dollar. The markets are looking ahead to Consumer Confidence data tomorrow, a series of PMI data on Wednesday and the ECB interest rate decision on Thursday, which is likely to have an effect on the euro.
Despite recent dovish rhetoric, it is thought that the ECB will hold off from cutting rates and set the stage for a possible September rate cut.
In a new monthly report, Germany’s finance ministry has warned that the factory sector faces tough challenges. It says that manufacturers are suffering due to a slowing global economy, a reminder that the US-China trade war is taking its toll.
