Eurozone

EC raises European growth outlook but slashes forecast for Greece

Posted on May 5, 2015 at 2:49 pm GMT

The European Commission published its spring economic outlook for the European Union today, raising its outlook for economic growth for the European Union (EU) and the Eurozone. GDP growth for 2015 for the Eurozone was raised from 1.3% to 1.5%, and from 1.7% to 1.8% in the EU as a whole from its last forecast in its winter outlook. This compares to 0.9% growth in the Eurozone in 2014 and 1.4% growth for the EU. For 2016, the forecast is [..]

European Session – Euro recovers after Eurozone GDP upwardly revised, dollar weak after US trade deficit data

Posted on May 5, 2015 at 2:27 pm GMT

The euro recovered losses after an upward revision to the Eurozone’s GDP & inflation forecasts by the European Commission, helping overcome market concerns from a lack of a Greek debt deal. The single currency fell early in the European session to a low of 1.1065 before rebounding to a session high of 1.1172. Euro-area growth is now forecast to increase 1.5% this year, up from a prediction of 1.3% in February while inflation is now expected at 0.1% from a [..]

FX Daily Outlook

Posted on May 4, 2015 at 7:30 am GMT

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Eurozone April inflation rises to 0%; Unemployment stays unchanged at 11.3%

Posted on April 30, 2015 at 11:40 am GMT

Consumer prices in the Eurozone stopped falling for the first time since November 2014 as the flash Eurozone inflation figures showed that the consumer price index rose to 0.0% in April on a year-on-year basis, compared to -0.1% in March. This was in line with forecasts. Core CPI, which excludes volatile factors such as food and energy, came in at 0.6%, also in line with forecasts and unchanged from the previous month’s rate. The main harmonized CPI was pushed higher [..]

Week Ahead – US Fed and BoJ rate decisions, GDP data to dominate

Posted on April 24, 2015 at 12:48 pm GMT

The economic calendar for the upcoming week looks busy despite a number of bank holidays for several countries. The key data will be coming out of the United States where the US Federal Reserve will hold their April Federal Open Market Committee (FOMC) meeting on Wednesday, as well as preliminary GDP readings to be published on the same day. GDP data for other countries are also due next week, including the United Kingdom and Canada. PMI data for the US, [..]

Eurozone April Flash PMI disappoints but euro periphery outperforms France and Germany

Posted on April 23, 2015 at 10:35 am GMT

A batch of flash PMI surveys for April are out today for Germany, France and the Eurozone as a whole. The data is a key indicator for the markets about the pace of economic recovery in Eurozone member states at a time where analysts will be watching closely the effects of the ECB’s quantitative easing program materializing into sustainable growth while Greek default fears linger in the background. First to be published were the French Markit Flash manufacturing and Flash [..]

Week Ahead – Eurozone recovery in focus but Grexit fears remain ahead of Eurogroup meeting

Posted on April 17, 2015 at 12:11 pm GMT

Next week will see a number of key indicators for Eurozone countries as manufacturing and services PMI data are released for France, Germany and the Eurozone, as well as German IFO Business Climate and ZEW Economic Sentiment indices. Markets will be paying close attention to these figures for further evidence of the strengthening recovery in Eurozone economies, which will be coming against the backdrop of the worsening situation in the debt negotiations for Greece. The German ZEW Economic Sentiment indicator, [..]

European Session – Euro heads for biggest quarterly losses on record

Posted on March 31, 2015 at 2:47 pm GMT

Today’s data highlights during the European session were Eurozone inflation and UK GDP. The euro was generally weaker today, touching lows of 1.0712, due to several factors. One is quarter-end flows and the other is Greece and whether the list of reforms submitted would be satisfactory for its international creditors to release much needed bailout money before the country goes bankrupt. Meanwhile, Eurozone inflation data today for March came in as expected at minus 0.1% on the headline y/y which [..]

European Session – Strong dollar ahead of FOMC, negative Eurozone CPI push euro to 9-year low

Posted on January 7, 2015 at 2:37 pm GMT

The euro moved another leg lower against the dollar today to touch a 9-year low of 1.1818. The main catalyst for today’s move was a lower-than-expected Eurozone CPI figure. Inflation fell to an annual rate of – 0.2% in December, the first time it went negative since 2009. Expectations were for a drop in the annual inflation rate to – 0.1%. The main contribution to a lower CPI rate came from energy prices, which is an important component in the [..]

European Session – Euro, sterling up on data

Posted on December 16, 2014 at 3:11 pm GMT

Currency markets were volatile today due to a risk-off climate which triggered safe-haven demand, resulting in flows to the yen. The dollar’s recent losses against the euro and the yen were extended. Some weak US housing data did not help the greenback. Housing starts declined 1.6% in November, as the annual rate of total housing starts fell to 1.03 million last month from 1.05 million in October. Last week’s low near 117.43 yen was taken out by early Asian session [..]

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