UK final services PMI data was revised upwards which gave the Pound some strength against the Euro and the Dollar yesterday morning. The Pound is also being supported by the commitment from both the UK and EU to intensify Brexit trade talks and to agree to a deal. MPC member Haskel has said that he is ready to vote to approve further economic stimulus if needs be.
Final services PMI from Germany surprised the market, whilst both Eurozone investor confidence and retail sales also came out better than forecast. German factory orders were released better than expected this morning at 4.5% compared to the anticipated figure of 3.0% which has given the Euro a further boost.
News that President Trump has returned to the White House to continue his coronavirus treatment after leaving hospital led to the Dollar weakening as investors took a more risk-on approach. Federal Reserve Chairman Powell as well as several other FOMC members will be making speeches this afternoon, with the market eagerly anticipating their comments on the current state of the US economy.