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6 Aug 2013
Flash: Eurozone data coming in positive - TD Securities
FXstreet.com (Barcelona) - Jacqui Douglas, Senior Global Strategist, Rates and FX Research, TD Securities said “We had a few second-tier data releases today”.
Key Quotes:
“…Italian IP, the first print of Italian Q2 GDP, and German factory orders”.
“Italian IP for June was in line with expectations at +0.3% M/M. And Q2 GDP for Italy was only half as bad as expected at –0.2% Q/Q (mkt –0.4%), so after –0.6% in Q1 and the better momentum from IP into Q3, there are some concrete signs that things are getting better there”.
“Lastly, German factory orders rose by 3.8% M/M in June and the prior moth’s decline was revised from –1.3% to –0.5%, so another strong result there. The details are always slow to come out, but the shipments figures will give us a better tracking for German IP tomorrow morning”.
Key Quotes:
“…Italian IP, the first print of Italian Q2 GDP, and German factory orders”.
“Italian IP for June was in line with expectations at +0.3% M/M. And Q2 GDP for Italy was only half as bad as expected at –0.2% Q/Q (mkt –0.4%), so after –0.6% in Q1 and the better momentum from IP into Q3, there are some concrete signs that things are getting better there”.
“Lastly, German factory orders rose by 3.8% M/M in June and the prior moth’s decline was revised from –1.3% to –0.5%, so another strong result there. The details are always slow to come out, but the shipments figures will give us a better tracking for German IP tomorrow morning”.