020 7898 0500The Euro managed to claw back some of its losses against the US dollar following on from the positive jobs report in the US on Friday. This is despite some disappointing data from Germany. Industrial production surprisingly fell in the month of June by 1.1% according to figures released yesterday. It was forecasted that the sector was expected to increase by 0.2%. This is the biggest decline in six months. However, the market appears to have discounted it as a blip as the annualised figure remains positive at 2.4%.
It is a quieter week ahead with mainly second tier data set to hit the wires. This coincides with the midsummer lull which is seemingly underway. Today we have the trade figures from Germany and France set for release.
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