ZEW Economic Sentiment figures for Germany and the Eurozone will draw investor interest on Tuesday. A slump in sentiment would align with recent economic indicators and increase expectations of a Euro area recession. An increasing risk of a Euro area recession could influence investor bets on multiple 2024 ECB rate cuts.
On Wednesday, industrial production, employment, and second estimate GDP numbers for the Eurozone will require consideration.
Revisions to GDP numbers and employment trends would likely influence EUR demand more. Weaker-than-expected employment figures could support the case for multiple 2024 ECB rate cuts. A deterioration in labor market conditions could affect wage growth, disposable income, and consumer spending.
On Friday, trade data for the Eurozone will be in focus. Import and export trends could influence views on the Euro area economy and the ECB rate path.
Beyond the stats, ECB member commentary also requires consideration. Views…
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