Euro is choppy ahead of a wide range of data releases this morning, including business and consumer confidence and economic, industrial and services sentiment. The ECB’s bulletin yesterday highlighted the continuing risks to the wider economy, from trade wars to the impact of Brexit.
Nonetheless, in a more positive sign, German consumers are feeling more confident than the previous month, according to figures released yesterday morning.
The ECB continues to face backlash over its stimulus measures, with the dispute unusually spilling over into the media. Germany’s appointee, Sabine Lautenschlaeger, stood down on Wednesday over dissatisfaction with the policies. Asked why these divisions had become so apparent, Chief Economic Philip Lane told the Handelsblatt yesterday that ‘the economic situation is quite ambiguous…. but there is no recession and the risk of deflation is currently small.’
