On a day dominated by the potential impacts of Brexit and Trump’s escalation of the trade battle with China, the inflation rate from the eurozone passed under the radar somewhat. Still, we’re here to report on the major economic releases of the day, so it is our duty to tell you that inflation fell to 2% in August from 2.1% the previous month. This was in line with expectations and nothing happened to the euro as a result.
The single currency traded sideways against sterling throughout the day, but it did manage to make some gains against the dollar which weakened following the trade war reports.
Like the UK, there isn’t much on the schedule today from the eurozone, although European Central Bank president, Mario Draghi will be delivering a speech this morning. Tomorrow we will see the eurozone’s construction output in July.
