Euro is still down against the pound, after last week’s poor economic figures. Today’s industrial production figures are expected to show a drop compared to last year, even if monthly figures do re-enter the green. Tomorrow, we will also see the European Commission’s forecasts, and the markets will be hoping for some news to give the single currency a boost.
Meanwhile, Ursula von der Leyen has continued the war of words over Brexit trade negotiations, saying that the UK’s ambition to be a ‘global champion of free trade’ was ‘music to [her] ears’, but that it would have to have ‘corresponding guarantees on fair competition and the protection of social, environmental and consumer standards’. Meanwhile, Michel Barnier has said that Sajid Javid must not ‘kid’ himself over a long-term deal on equivalence for financial institutions, giving the City access to the EU market.
