Eurozone: German factory orders and ECB minutes in focus - TDS

Analysts at TDS suggest that German factory orders and the release of ECB minutes from its latest meeting will be the key economic releases for today’s session.

Key Quotes

“For German factory orders, markets are looking for a 1.9% gain in May, just about fully reversing the drop in April.”

“More interesting though should be the ECB minutes at 12:30. We look for more colour on the ECB’s decision to drop the easing bias on rates but leave the bias in place for the QE guidance. Draghi said though that the ECB did not discuss tapering at this meeting, so markets probably won’t get more insight into what they really want to know heading into the autumn and the expected 2018 tapering decision.”

“For ECB speakers today, we have Villeroy speaking at 6:50am, while Weidmann and Nowotny discuss the future of the euro at 5pm.”