The euro is down against the pound this morning, despite continued concerns in the UK about the possibility of a no-deal Brexit. Further political news will come later this week from the G20 summit. Meanwhile, the single currency is at a three-month high against the dollar, as the latter weakened on an increasing possibility of monetary easing.
Today, there are no economic releases from the eurozone, so any pressure on the euro is expected to be largely external.
Wednesday will be busier. We will see German consumer confidence for July, expected to show a small drop, Thursday will be the key day, with eurozone-wide business and consumer confidence indices, services sentiment, inflation expectations, economic sentiment and industrial sentiment. On Friday, we’ll eurozone inflation rates and Spanish GDP figures.
