This morning, UK employment data including average earnings, claimant count change and the unemployment rate all came out better than expected. However, the unemployment rate continued to rise to 5% in the 3 months to November with redundancies also at a record high which led to the Pound seeing some weakness.

Yesterday, German ifo business climate data disappointed the market with a reading of 90.1 compared to 91.5 that was forecast which weakened the Euro slightly. In addition, Italian PM Conte has decided to resign from the current government in order to form a new coalition.

The Dollar has made some gains against a weaker Pound and Euro. The market is still waiting for the Federal Reserve interest rate decision and press conference tomorrow evening which is likely to cause some volatility.