The euro is weak against the pound this morning, due to sterling’s strength on news of an upcoming election.
Yesterday, data revealed that corporate lending in the Eurozone was beginning to slow. Bank lending to companies fell in September, with corporate loan growth falling from 4.3% in August to 3.7%. This morning, French GDP data was released, showing that the French economy advanced 0.3 percent on quarter in the three months to September 2019, the same pace as in the previous two periods but above market estimates of a 0.2 percent growth
A series of data will be released for the Eurozone today, including Business and Consumer Confidence figures.
ECB board member Sabine Lautenschläger is due to make a speech to the ECB this evening, which is likely to comment on the ECB’s quantitative easing strategy. This comes after she announced her resignation, which will take effect tomorrow.
