The euro remains weak this morning, dipping on comments from Italian deputy Prime Minister Matteo Salvini, saying that the European Commission could fine Italy three billion euros for breaking EU debt and deficit rules.
The euro awaits the release of German unemployment data and Italian manufacturing confidence data today. Many will be looking to see if Italy’s growth prospects are as precarious as expected.
Yesterday, Eurozone business confidence came in below expectations, declining to 0.3, making it at its lowest level since April 2016. However, consumer confidence did remain unchanged, albeit still negative and industrial sentiment did see an increase from -4.3 to -2.9.
