020 7898 0500A raft of data is to be released in the Eurozone this week but much of the focus this week will remain on Italy, which just voted “NO” to the proposed reforms which then resulted in the resignation of their Prime Minister. Initial reaction has been negative as it will result in uncertainty within Italy over political stability. The European Central Bank is poised to step in as needed.
In terms of data, we’ll see the Services PMI for France, Germany, Italy and Spain released later today as well as the prominent Eurogroup meeting.
German factory order information and the ECOFIN meeting notes will be out on Tuesday, followed by lower-tier data releases from Germany, France and Italy on Wednesday.
Thursday sees the minimum bid rate and an ECB press conference – which will show how the central bank is going to react to the Italian referendum. The week will then finish on a quiet note, with only Germany’s trade balance and France’s government balance and industrial production figures, which are generally lower-impact data releases.
