The euro is on a slight uptick against the pound this morning, following manufacturing PMI releases from Spain, France, Germany and the Eurozone, all of which came in within expectations and showing a rise month-on-month.
Later today, we will see a number of speeches from key ECB officials, and the markets will be watching closely for any further revelations about potential stimulus programmes.
Tomorrow will be quiet on the economic data front, and much movement will likely be dictated by Brexit expectations, as the UK Parliament is set to return for a (brief) session before prorogation. Further on this week, Eurozone retail sales, Germany factory orders and estimated European GDP growth figures will be released.
In Rome, the 5-Star Movement and the PD are still in talks to form a government, with difficulties already emerging over Luigi Di Maio’s ‘red lines’ on immigration. If talks collapse, then it could be an early election after all for Italy.
