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EUR: mixed day for eurozone economic data as attention lies elsewhere

By Michael Cooper September 29th, 2017

While the main focus of the day was on the raft of speeches taking place in the UK, there were a few data releases in the eurozone yesterday, although they caused little movements to the euro. The German inflation rate for September came in unchanged at 1.8% which was in line with expectations.

Meanwhile, the German consumer confidence disappointed slightly, coming in as it did at 10.8 for October, against an expectation of 11 and dropping from 10.9 in September. It is worth pointing out that the last reading was the highest for 16 years, so a fall off from that figure is not the end of the world.

Finally, eurozone business confidence figures were released. They rose to 1.34 in September which was above expectations of 1.11. All in all, a bit of a mixed day for eurozone data, but there is more to come today. We have the German retail sales, France inflation and the jobless claims for Germany.