Data on growth and inflation across the euro area will start flowing in from today. France's third-quarter GDP figures released this morning were a tenth below the consensus of 0.4% quarter-on-quarter. We will know the growth rates for Germany and Italy before the Eurozone Advanced Paper is published at 11:00 CET. Francesco Pesole, a foreign exchange analyst at ING, said the consensus is that Germany is expected to see negative growth of 0.1% quarter-on-quarter for the second year in a row, while the euro area as a whole is expected to grow flat at 0.2% quarter-on-quarter. I am doing it.
The eurozone is on the verge of a data overflow
“The ECB’s greater emphasis on downside risks to growth means that these GDP figures may have a larger impact on markets than usual. Incidentally, the Council’s inflation The optimism and clear tolerance for some increase in the numbers in the coming months means that the impact of the CPI numbers on the euro could be slightly reduced.
“October statistics for Spain and Germany will be released today, and preliminary figures for the euro area will be released tomorrow.Spain's core inflation is expected to edge down to 2.3%, while Germany's headline index is expected to drop to 9. It is widely expected to rebound from 1.6% in March.
“Yesterday, EUR/USD briefly explored levels below 1.080 before rallying on weaker US job openings. Barring any major growth/inflation surprises today and tomorrow, the latest dovish Given the ongoing communications, the market is likely to remain reluctant to value ECB easing, and the gap between USD and EUR short-term swap rates will remain large, consistent with EUR/USD around 1.07. ”
