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German ZEW data in focus - TD Securities

FXStreet (Łódź) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities suggests that in the European session market attention will focus mainly on the German ZEW release which he expects to point to another month of softness.

Key quotes

"For the ZEW, we think that we’re in for another month of softness, and look for the current assessment to fall from 25.4 to 10 and expectations from 6.9 to just below zero, with both coming in below consensus expectations."

"We also have Eurozone IP today, where after the softness from Germany but a little more stability from France, and Italy, we’re in line with consensus in looking for a decline of -1.6% M/M."

"Also today are final Sept CPI readings for France, Spain, and Italy, as well as the beginning of the European Court of Justice hearings on the ECB’s OMT program, although the ECJ ruling isn’t expected until the middle of next year."

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