Barclays Capital FX Strategy Research argues that European data this week are unlikely to materially impact the EUR, with the ECB meeting on Thursday set to dominate EUR price action.
"We expect German factory orders to increase slightly (Wednesday; Barclays: 0.5% m/m, consensus: -0.3% m/m), due to strong external demand, while domestic demand will likely remain a drag.
Moreover, we expect German IP to remain moderate (Thursday; Barclays: 0.3% m/m, consensus: 0.5% m/m).
Finally, we project French industrial production to rise slightly (Friday; Barclays: 0.2% m/m, consensus: 0.3% m/m) in April, pulled up mainly by energy," Barclays adds.
EUR/USD is trading circa 1.1270 as of writing.
Source: Barclays ResearchOriginal Article
