After a strong start to the day, the bulk of economic data is somewhat more mixed. Euro-zone GDP was confirmed at 0.6% q/q and 2.5% y/y. The German ZEW Economic Sentiment rose to 18.7 points but this fell short of 20 points expected. Industrial output slipped by 0.6% as expected but rises 3.3% y/y, which [...]
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All the UK inflation numbers come out worse than expected. HEadline CPI is only 3% y/y and 0.1% m/m. Core CPI is also unchanged at 2.7% instead of 2.8% predicted. The Retail Price Index (RPI) advances to 4% but also falls short of predictions. PPI data stands out by exceeding expectations at 1%, but this [...]
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The economy of Italy is seeing accelerating growth: 0.5% q/q, the highest since 2009. This may provide some comfort after Italy was left out of the World Cup for the first time in 60 years. EUR/USD consolidates its gains and trades around 1.0710. Resistance awaits at 1.1780 and support at 1.1670. Italy, the third-largest economy [...]
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