We’ve got a bunch of medium-tier reports coming in from the euro zone this week, along with the ECB meeting minutes. Here’s what to expect.
Medium-tier euro zone data
First up, we’ve got the German industrial production and trade balance figures due on Monday’s European trading session. The former is slated to show a 0.4% rebound after the earlier 1.9% slide while the latter could print a smaller surplus of 16.8 billion EUR from the earlier 17.0 billion EUR.
The region’s Sentix investor confidence index is also up for release then, possibly showing a recovery from -3.3 to +0.3.
France and Italy will be releasing their own industrial production reports on Wednesday. Meanwhile, Thursday has the final CPI readings from Germany and France, and the aggregate figure for the region is due on Friday.
ECB meeting minutes (July 11, 8:30 am GMT)
The European Central Bank is scheduled to release the transcript of their latest monetary policy meeting, providing more insight on their decision to keep interest rates on hold for the time being.
In addition, policymakers adjusted their forward guidance to indicate that they expect “the key ECB interest rates to remain at their present levels at least through the first half of 2020.”
During the presser, head honcho Draghi explained that the “prolonged presence of uncertainties related to geopolitical factors, the rising threat of protectionism and vulnerabilities in emerging markets is leaving its mark on economic sentiment.”
Apart from that, the governing council also updated their economic forecasts to signal slightly stronger growth and inflation for this year and weaker expectations for both in 2020. The ECB also printed more deets on their new targeted TLTRO then.
Missed last week’s price action? Read the EUR & CHF price review for July 1-5!