The euro ended the week under pressure from poor data releases, with business confidence unexpectedly coming in at -0.22, instead of the expected 0.11. Industrial sentiment also declined more than forecast, in a sign of the worries besetting the single currency zone. Economic sentiment, while not showing such a big drop, is nonetheless at nearly a five-year low.
Today, we will see further indicators of the health of the European Union’s economy, including Spanish GDP and German inflation and unemployment. German manufacturing on Tuesday is also expected to show a decline.
Nonetheless, despite so many economic figures, we can’t ignore the political pressures this week, as the British Parliament’s deadline to its government of 19th October comes ever closer for a deal and European Union figures seem to still be sceptical of any progress made.
