Euro ended last week up against the pound, after French and Spanish industrial production both came in better than forecast. This follows on the heels of above-expectation German industrial data earlier this week, and is a positive sign for the markets, although no-one can say yet whether this is a trend that will stay. Observers are already talking about a potential change in fortune for the Eurozone’s slowdown, but it is early days yet.
Today, Italian retail sales have just come in at -0.2%, missing expectations of a 0.3% increase. Year-on-year, they are below 2015 levels. German GDP, released mid-week, is still expected to show a drop compared to the previous year. Finally, on Thursday, we have a number of releases related to German inflation, and likewise for the Eurozone and Italy on Friday.
