European Council President Donald Tusk has recently spoken out in favour of trying to keep the UK in the European Union. He pointed out that politicians should not try and speed up the Brexit process even if they are getting frustrated with the length of time taken to try and get some form of conclusion.
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Tusk went on to say, ‘At this rather difficult moment in our history, we need dreamers and dreams. At least I will not stop dreaming about a better and united Europe.’ His comments may have been aimed at French President Emmanuel Macron who suggested that the UK should only be given a limited amount of time to conclude the discussions by leaving on the terms previously agreed or a No-deal Brexit.
The Spanish elections are due to take place in just over a week’s time and typically the uncertainty of an election will often cause the currency to weaken, which in this case it could cause a wobble for the euro.
The election will be the third one to take place in just four years and it appears as though the Socialist party are leading the polls but as we have seen in recent years polls can often be very misleading. Suggestions are that almost half of the Spanish electorate have yet to make up their minds about which party to vote for so the future of the country is uncertain.
Eurozone Trade Balance figures as well as inflation data is due to be released at 10:00 this morning and if inflation continues to remain relatively low this could cause the euro to weaken marginally as it means the chances of an interest rate hike coming anytime soon could be pushed further back.
Therefore, if you’re considering making a currency transfer involving euros, pay close attention to this morning’s economic data.
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