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Posted August 12th, 2013 by Charles Purdy

Will German economic sentiment improve?

French industrial production data came in worse than expected on Friday, indicating a contraction of 1.4% rather than the marginal growth that was predicted. This caused the euro to lose ground against sterling and the US dollar. After strong data sets emanating from Germany earlier in the week managed to drive positive euro performance, worse than expected French data had the opposite effect. This week the spotlight moves back to Germany on Tuesday as we await the release of economic sentiment data, which gauges the German economic outlook over the next six months and is based on a survey of institutional investors. Whilst data from the rest of the Eurozone has been less than convincing, German data must remain upbeat to prevent the euro depreciating. Various other data may impact on euro performance to a lesser extent including quarterly GDP data from the Eurozone countries, preliminary French employment data and monthly Consumer Price Index data. Call in now to see how markets react to developments across the Eurozone.

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Posted August 9th, 2013 by Charles Purdy

German economic strength underpins solid euro performance

The euro has performed reasonably well this week on the back of positive German data. As the Eurozone’s strongest economy, Germany’s economic health has a strong bearing on the performance of the seventeen-nation currency and data releases on Tuesday and Wednesday boosted performance. German Factory Orders data came in much better than expected and showed 3.8% growth. This was followed by monthly figures showing a 2.4% increase in industrial output, which was around 2% better than expected. As a result the single currency made consistent gains against the US dollar throughout the week and rose towards highs that were last seen in mid-June. The euro did not perform quite as well against sterling as despite being in the ascendancy for periods of time, it could not make up the ground lost following Mark Carney’s mid-week statement. The only real data of significance emanating from the Eurozone today is the monthly French Industrial Production data, which is expected to show marginal growth. Call your trader now to see if France can aid Germany in hauling the Eurozone towards economic salvation.

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