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After last night’s Parliamentary vote on the Brexit deal, the European Council President, Donald Tusk, announced that the EU was not prepared to reopen the deal. “The withdrawal agreement is, and remains, the best and only way to ensure an orderly withdrawal of the United Kingdom from the European Union,” a spokesman for Tusk said. “The backstop is part of the withdrawal agreement, and the withdrawal agreement is not open for renegotiation.”

Like the UK, there were no major economic data releases from the eurozone yesterday, but today is much busier. The day begins with the German Gfk consumer confidence reading for February, which is expected to dip a little to 10.3 in January from 10.4 the previous month. Later this morning, we will see business and consumer confidence for January, as well as services, industrial and economic sentiment figures for this month. Finally, we will see the preliminary reading of the German inflation rate for January. The figure is expected to drop to 1.6% from 1.7% the previous month.

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