The euro weakened against the pound on Sunday as sterling gained on hopes of ruling out a no-deal Brexit. However, with no clear decision yet made, this could soon be reversed, so it will be a volatile week ahead.
German balance of trade figures came in this morning at €17.9 billion, above the €16.5 billion forecast. However, the result still represents a €0.4 billion decrease year on year – a reminder of the struggles of the wider Eurozone at the moment.
This week, the focus will largely be on Brexit, with an emergency summit this Wednesday to discuss the UK’s request for a longer extension. On Wednesday, we will also see the ECB’s press conference, where the focus is expected to be on global recession worries and measures to ease pressure on banks.
