Euro has started the day a little weaker against the pound, after a brief upward movement following positive retail sales data. Both monthly and yearly figures came in much better than expected, particularly helped by clothing, electronics and furniture sales. It comes after two months of falling sales, although it remains to be seen whether this is just a festive blip.
Construction also came in positively in Germany, which is another good sign for the eurozone, as this is one of the sectors that has been struggling recently. Interestingly, consumer confidence, to be released today, is still forecast to fall. Business confidence is expected to remain in the negative, but less so than previous months.
Ursula von der Leyen is set to meet Boris Johnson in London today, and the markets will be watching very closely for any hints of future direction or progress. Perhaps the biggest worries for investors at the moment are the possibility of no trade deal after December, so these will be closely scrutinised.
