Germany, the leading economy in the Euro Zone, will reveal one of the key economic indicators – German Ifo Business Climate on September 24 at 11:00 MT time.
Euro zone industrial output is firmer than anticipated
In January, euro zone industrial output turned out to be stronger than anticipated. That’s what data uncovered on Wednesday. The given outcome became possible do to a considerable contribution from energy. What’s more, it even neglected a tumble in German output.
As the European Union's statistics office Eurostat informed, in January, industrial output in the 19 countries that sharing the common currency managed to tack on by up to 1.4% month-on-month for a 1.1% year-on-year dive.
Financial analysts who were interviewed by Reuters had hoped for a 1% monthly leap as well as a 2.1% annual tumble.
The January outcome was mainly caused by a 2.4% monthly as well as 4% year-on-year rally in energy output that helped to compensate mitigate or compensate the dismal outcomes for capital and intermediate goods production.
In fact, output managed to head north in spite of a decline in Germany, which appears to be the leading economy of the European Union. As follows from Eurostat’s estimate, in Germany, industrial output inched down by about 0.9% on the month that happens to be a higher dive than the 0.8% slump forecast by the German statistics agency earlier this week.
As a matter of fact, huge leaps in Italy and France, which are respectively the third and second economies of the European Union, more than compensated that German data.
As Eurostat informed, in France, output headed north by up to 1.3% on the month, while in Italy, it managed to inch up by about 1.7%.
Meanwhile, the USD index was a bit lower versus rival currencies, demonstrating an outcome of 96.899.
The euro went up by 0.1% hitting $1.13.
The Kansas City Federal Reserve announced Friday the annual Jackson Hole symposium will be held virtually, a reversal from prior plans that saw a modified, in-person program…
The European Central Bank will make its policy statement on July 22 at 14:45 MT (GMT+3).
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).