It’s a relatively calm day today as the markets await a busy end to the week with ECB minutes and European elections. The eurozone’s current account figures were released yesterday, showing a narrowing of the current account surplus year-on-year, from €42.9 billion to €35.1 billion. This was, however, a better result than the markets had expected, and so the euro didn’t lose much ground.
Today, we will see the consumer confidence flash figures, expected to have improved to a still-not-entirely-positive figure of -7.7, up from -7.9. The markets are also uneasy on fears of a more likely no-deal Brexit, which the UK’s Philip Hammond will warn against today. Euroscepticism is likely to gain a bigger foothold in the European Parliament, with the Brexit party polling at between 30% and 35% in the UK, above any other party.
