020 7898 0500Despite numerous data releases this week, the Eurozone will likely take a backseat in the light of the US presidential election and ongoing Brexit saga in the UK. Investors will likely shy away from the dollar in the (now not-so-unthinkable) event of a Trump victory leading to increased capital movements into the euro. This would lead to the euro strengthening against the dollar.
Today begins with German factory orders, the retail Purchasing Managers’ Index (PMI) from the Eurozone, and Eurogroup meeting notes. Tuesday sees a raft of data. Germany will release industrial production and trade balance data, with France releasing information on its government budget, as well as its trade balance. The European Council will also release the ECOFIN meeting minutes.
Wednesday only sees an EU Economic Forecast, but releases pick up on Thursday, with French and Italian Industrial production information due, as well as preliminary non-farm payroll data from France. The week will end with a bank holiday in France, and German Consumer Price Index (CPI) and Wholesale Price Index (WPI) data will be released. Despite an abundance of economic information, as was stated earlier, events elsewhere will likely dictate the direction of euro markets.
