EUR: Positive news at last in regards to the Italian banking crisis

The Italian banking crisis continues to worry major banks as they are still calling for parity between the euro (EUR) and the US dollar (USD). It’s been a very quiet week for the Eurozone, due to the Christmas holiday period. M3 money supply came out better than forecast, which shows investors are reacting positively to the method chosen by the government to solve the Italian banking crisis. The Italian private loans data made no movement from the previous month, which reveals a conflicting result is not a positive outcome; however, this does show solidarity in their figures.

Things get a little busier next week with a steady flow of data being released. Starting 2017 off we have manufacturing Consumer Price Index (CPI) data for Spain, France, Germany and Italy. The following day we will see German unemployment data, followed by French and German preliminary CPI releases at 8:45am.