The euro is weaker today due to a number of factors, including hints that the ECB may cut interest rates this year. President Christine Lagarde has renewed her calls for government spending to help tackle the Eurozone’s slowdown.
Today is a relatively busy day for the eurozone, with the markets looking forward to this morning’s release of the European Commission’s growth forecasts and a number of key speeches. This morning, German inflation has come in at 1.7%, a slight rise year on year.
The European Parliament has voted on a motion on some of its negotiation priorities, calling for the UK to align with the EU on the environment, labour laws, social standards, state aid, competition, tax policies and fishing.
Senior European figures have been meeting to discuss future budget priorities, and Austria, Denmark, Sweden, the Netherlands and Germany look set to see higher contributions in the coming years.
