Fri, June 08, 2018
Manufacturing production in Germany unexpectedly fell in April, continuing a run of poor economic news from Europe’s largest economy.
A fall of 1% in output, along with a shock decline in factory orders reported earlier this week, indicates a moderate pace of growth in the second quarter. Exports has also fallen 0.3% in April, while in France, industrial production also declined.
The sterling strengthened 0.2% against the Euro after the German data.
Monthly data can be erratic, the fall in German production wasn’t an isolated incident, as Factory orders fell 2.5% in April.
The Pound fell to $1.3405 after touching 1.3445 yesterday. Sterling rose to 1.1425 against the Euro.
Data to look out today.
Not much data due out today.
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| Day | Time | Currency | Event |
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| FRI | 06:00 | EUR | EUR German Trade Balance | FRI | 06:00 | EUR | EUR German Current Account (euros) | FRI | 06:00 | EUR | EUR German Exports s.a. (MoM) | FRI | 06:00 | EUR | EUR German Imports s.a. (MoM) | FRI | 06:00 | EUR | EUR German Industrial Production s.a. (MoM) | FRI | 06:00 | EUR | EUR German Industrial Production n.s.a. and w.d.a. (YoY) | FRI | 06:00 | EUR | EUR Labor Costs SA (QoQ) | FRI | 06:00 | EUR | EUR Labor Costs WDA (YoY) | FRI | 07:15 | EUR | EUR ECB's Mersch Speaks in Paris | FRI | 08:30 | GBP | GBP BoE/TNS Inflation Next 12 Mths | FRI | 14:00 | USD | USD Wholesale Trade Sales (MoM) | FRI | 14:00 | USD | USD Wholesale Inventories (MoM) | FRI | 17:00 | USD | USD Baker Hughes U.S. Rig Count |
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*These are indicative rates only, based on interbank prices at the time of writing. For exact rates please contact our dealing team
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