020 7898 0500The main release for the eurozone on Friday was the German balance of trade report, which showed the trade surplus increased to €17.4 billion in January from €14.6 billion a year ago. In total, exports rose by 8.6%, while imports grew by 6.7%. Staying in Germany, industrial production surprisingly declined by 0.1% which was some way below the 0.5% growth expected.
Like the UK, it is a quiet start to the week, but we will see the German inflation rate on Wednesday, as well as the eurozone’s industrial production and unemployment figures for January. Finally, on Friday, the eurozone inflation rate will be released and we’ll also see year-on-year wage growth figures for the fourth quarter of 2017.
One thing we want to draw your attention to is the suggestion that there could be a duel currency scheme in Italy before long. Rather than replace the euro, the idea is to introduce a new currency that works alongside the euro and, if it proves successful, then it might prove possible to convince the Italian public that exiting the euro isn’t such a bad idea. Definitely something to keep your eye out for in the future.
