Post-Brexit trade negotiations are continuing today with the next deadline rumoured to be Wednesday for a deal to be struck between the two parties. Prime Minister Johnson is expected to travel to Brussels in the coming days to meet European Commission President von der Leyen in a bid to overcome the main sticking points. The Pound remains weak although this morning it has recovered most losses that were seen yesterday.
Germany is rumoured to be considering tightening lockdown restrictions further with 14,054 cases reported today. However, German industrial production yesterday morning came out at 3.2% compared to 1.8% that was forecast whilst Eurozone consumer confidence also beat expectations. This gave the Euro strength throughout the day, performing well against both the Pound and Dollar.
US businesses have called for the government to introduce a new fiscal stimulus package sooner rather than later to help boost economic growth and to help small businesses stay afloat during the pandemic. There are reports that the Senate is close to agreeing to a $906 billion stimulus plan which could be announced in the next few days. Overall, the Dollar remains weak due to optimism about coronavirus vaccines.