The European financial markets seem to be doing well. Economic data from within the European Union continues to come in positive, leading European stocks to gains. The markets are supported by news of industrial production in Spain exceeding investors’ expectation and lowering unemployment rates in France, among others. Financial experts now expect that the eurozone will close off 2017 better than anyone predicted.
At the same time the British pound sterling suffered losses as another wrench was driven in the Brexit negotiations. Last week the pound grew a little on hopes that since Ireland won’t hold preliminary elections, Brexit talks can continue smoothly. However, it is now clear that Northern Ireland has some border issues which forced Brexit negotiations into another halt. The GBP retreated to below $1.34 again. Nevertheless, it is expected that these drops are simply temporary reactions to news as they arrive and would be corrected in due time.
