The euro was looking slightly weaker against the dollar and pound yesterday evening, retreating from a two year high against the greenback.
The consumer confidence in France edged down to 94 in July from a downwardly revised 96 in June, well below market forecasts of 99. This comes as many feel their living conditions have worsened slightly and are worried over their future financial situations. It could be also due to signs that coronavirus infection rates could be rising again.
Data released this morning shows that, on a monthly basis, German import prices rose 0.6% in June, following a 0.3% gain in May, beating market expectations. However, prices dropped 5.1% year-on-year, showing that the economy still has some way to go before achieving a full recovery.
The European Central Bank will hold their non-monetary policy meeting today.
