The euro briefly edged higher midday yesterday as further doubts over May’s Brexit deal passing emerged. However, it fell to a two-week low against the dollar, following hints that the ECB meeting this Thursday will likely delay raising rates until next year.
Today is a quiet day for economic releases, with most interest on Thursday’s rate decision from the ECB, with the press conference at 1:30pm. Yesterday’s releases came in positively, strengthened by Germany, France and Ireland. Month-on-month retail sales hit 1.3, also a record high for more than 12 months – 2.2 points higher than January 2018. Nonetheless, commentators are concerned by poor inflow of business into the Eurozone, with little expectation that it will be its 0.2 expansion rate in the previous quarter.
