The euro has started the week slightly up against the pound after a tumultuous few days. As coronavirus cases grew throughout the European Union, and Italy extended its ‘red zone’ to include the entire country, the ECB announced billions of euros’ worth of additional stimulus measures. However, with no room to manoeuvre on interest rates, there were no cuts as in the US and UK.
In more positive news, Eurozone industrial production, while still shrinking, edged closer towards positive figures year-on-year last Thursday.
Tomorrow, we will see Eurozone and German economic sentiment, as well as wage growth and labour cost figures.
