EUROZONE DATA: Economic Sentiment Slips, Downside Risk To Growth
Jan-08 10:20
- Eurozone economic sentiment softened more than expected in December to 93.7 (cons 95.6) after a marginally downward revised 95.6 (initial 95.8).
- It’s a notable miss and decline just a month after the US presidential election, pushing through late 2023 lows for its lowest since late 2020.
- Historically, this level would suggest downside risk to Eurozone real GDP growth of 0.9% Y/Y back in Q3 (which was helped by a solid 0.4% Q/Q non-annualised in Q3) – see chart.
- The decline goes against the latest tick higher in the S&P Global Eurozone composite PMI for December, although at 49.6 it too remained in mild contractionary territory.
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EUR: Finding a broader bid
Dec-09 10:15
- The EUR is extending higher, printed a new high versus the USD, CNH, and the Yen, with some of the move being more a Function of the Dollar.
- Initial resistance in the EURUSD is above the figure, up to 1.0630 High Dec 06, but there's also 1.04bn worth of Option expiry for today at 1.0600, ahead of that Tech level.
EURIBOR: EURIBOR FIX - 09/12/24
Dec-09 10:04
EURIBOR FIX - EMMI/Bloomberg.
- EUR001W 3.1590 0.0170
- EUR001M 2.9440 -0.0610
- EUR003M 2.8620 -0.0060
- EUR006M 2.6610 0.0070
- EUR012M 2.4500 0.0510
MNI: INVITE REMINDER: MNI Webcast with ECB's Philip Lane On Dec 18
Dec-09 10:00
You are invited to listen to an MNI Webcast with Philip R. Lane, Chief Economist and Member of the Executive Board of the European Central Bank.
Details below:
- Topic of discussion: 'Eurozone economy and the ECB's monetary policy'
- Date: Wednesday 18 December
- Time: 9am - 1030am London; 10am - 1130am Frankfurt
- This event is on the record and will run as a Zoom Webinar
To register please go to: MNI Webcast Registration
