Private DCN Private DCN - Euro

EUR: industrial production figures disappoint

By Ricky Bean June 14th, 2018

Earlier this week, production figures from the UK were extremely disappointing, so it was always going to be interesting to see how the eurozone fared. From a upwardly revised figure of 3.2% in March, analysts had predicted that production would slip to 2.8%. However, it actually came in at 1.7%, which is the smallest increase since last April.

The only other release of note was the employment figures, which showed that the number of people employed in the eurozone increased by 0.4% in the first quarter of 2018, which was better than the 0.3% forecast. Year-on-year, employment went up by 1.4% which was also healthy. The two releases combined to help the euro post a good performance against sterling and the dollar.

Today we have the inflation rate from Germany, ECB’s interest rate decision, and the subsequent press conference. It will be interesting to see whether policymakers give any indication on future monetary policy and, if so, whether they will strike a cautious tone as they are wont to do.