The euro up against the pound but still under pressure, as British and Dutch voters went to the polling booths for European elections yesterday, continuing across the continent today. Fears of a Eurosceptic surge continue to worry the EU, with the volatility that they could bring.
The ECB released its monthly meeting notes yesterday at noon, in which it said that it would hold interest rates at 0%, and expected rates to remain low throughout 2019. Policymakers are concerned with slower-than-thought growth, but is holding off on economic support until it becomes clear that the last few months’ trend is long-term, rather than temporary.
Manufacturing in the eurozone contracted last month, with eurozone manufacturing PMI still failing to reach back through the crucial ceiling of 50. German business sentiment also fell to its lowest level since 2014 – not a drastic drop, but not a positive sign nonetheless.
