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1 May 2013
Forex Flash: Yesterday was a mixed day for European data - Deutsche Bank
Jim Reid of Deutsche Bank notes that yesterday was a mixed day for European data with the most recent retail sales and unemployment numbers in Germany as well as Euro area CPI all coming below expectations.
He adds that Spain’s economy contracted 0.5% in Q1 as expected although on a positive note Italian unemployment surprisingly fell in March while French consumer spending also rose much stronger than expected. That said, he adds that “All these are perhaps seen as a side show for now as all eyes will be what the ECB does tomorrow and Draghi’s performance at the post-meeting press event.”
He adds that Spain’s economy contracted 0.5% in Q1 as expected although on a positive note Italian unemployment surprisingly fell in March while French consumer spending also rose much stronger than expected. That said, he adds that “All these are perhaps seen as a side show for now as all eyes will be what the ECB does tomorrow and Draghi’s performance at the post-meeting press event.”