Sterling remains strong against the euro this morning, with weekly and monthly gains of nearly 5% and 3%, respectively.
It is a mixed story for the pound against the US dollar. GBP/USD enters today with weekly gains of nearly 0.7%. However, on a monthly footing, sterling has weakened over 1.5% against the greenback.
In the stock markets, the Dow Jones continued to weaken over the course of Monday, falling around 100 points as investors digested fresh economic data. It was a similar story for the S&P 500 and the Nasdaq, which both erased minor early gains on Monday.
Over in the eurozone, European equities made little movement on Monday afternoon. Germany’s DAX 40 made very small gains of just 0.1% as comments from the European Central Bank’s President, Lagarde, indicated that the ECB is likely to maintain its current policy trajectory.
Tomorrow there will be plenty speeches from different members of the European Central Bank. Economists will be listening closely for any comments which could move the euro in any direction against other rival currencies.
Vice-President of the European Central Bank, Luis de Guindos will speak at 8:50am, followed by both the supervisory board member, Edouard Fernandez-Bollo, and member of the executive board, Fabio Panetta at 10:10am.
Meanwhile, US dollar watchers can expect a flurry of key economic data. Imports, exports, consumer credit change and much more.
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