The euro is still strong against the dollar this morning as Biden continues to gain ground in the US election.
European Central Bank official, Isabel Schnabel, said in a speech yesterday that the ECB should not take calm in the bond market for granted amidst lockdowns across Europe and the economy taking a turn for the worse as a result. She added, “Incoming data points to an inversion in the trajectory of the euro area economy.”
Data released yesterday showed that the Eurozone’s retail trade dropped by 2% from a month earlier in September, compared with market expectations of a 1% fall. It also slowed 2.2% year-on-year.
