EU chief negotiator Barnier believes that Prime Minister Johnson does want to agree to a post-Brexit trade agreement with the EU despite urging the UK to get ready for a possible no-deal scenario. Barnier has told his team that he remains confident but a deal is likely to be less ambitious than previously thought. The Pound is still under pressure against the Euro but has made gains against a weaker Dollar.
German Ifo business climate data came out better than expected yesterday at 90.5 compared to the forecasted figure of 89.2. The ECB has asked European banks to put any dividends on hold for the rest of the year and to avoid buying back any shares. Overall, the Euro remains strong against the Pound and the Dollar
US consumer confidence and manufacturing figures are both due to be released at 3pm today, which may cause some short-term volatility. US Senate Republican leader McConnell has confirmed that the next coronavirus response bill will be worth around $1 trillion, although Democrat Speaker of the House of Representatives Pelosi is still hoping to persuade Republicans to increase this figure. Talk of further fiscal measures is weighing heavily on the Dollar which remains weak.