The euro gained last night against the sterling, as British MPs failed to show a majority for any of the options from the session of indicative votes. Today, we’ll see a number of economic releases. Service sentiment is expected to come in at 11.6, down from 12.1, and consumer confidence at -7.2, worrying but higher than February.
Yesterday, ECB policymaker Villeroy said in Geneva that although trade tensions and the German economy were pushing down global growth, ‘it’s a slowdown and not a recession and we’re still hoping for a pick-up over the course of the year. We continue to follow the economic situation very closely and we have without a doubt sufficiently powerful tool and margin to manoeuvre to act if needed.’
