Euro eases back further

It was a relatively quiet start to the week in markets. US equities continued to grind higher setting fresh all-time highs on Monday while it was reported prominent economist John Taylor was interviewed by President Trump for the Fed chairman position last week

The euro has eased back since the start of the week and is currently trading mid-range between $1.17-$1.18 against the dollar, sterling is a touch weaker amid continued uncertainty in negotiations with the EU

UK Prime Minister May’s meeting with European Commission President Juncker last night yielded little as she attempted to break the current impasse ahead of the European leader’s summit later this week

UK annual inflation data is due release later this morning, the consensus estimate expects inflation to rise to 3.0% in September, up from 2.9% in August. The Bank of England expect inflation to rise to ‘above 3%’ in October, according to its latest inflation report

Other data due today include the final estimate Euro area inflation for September and US industrial production