Eurozone: Good week for activity data - ING
Analysts at ING suggest that it should be quite a good week for EZ activity data, with 3Q17 GDP for the region being confirmed at a healthy 0.6% QoQ tomorrow.
“We’ll also see what German Bund yields make of Draghi’s speech tomorrow in Frankfurt. Could it be another Sintra-like moment? Our debt team do feel Bund yields are biased to the upside (there is heavy debt issuance of €25-30bn this week), but it is not clear Bunds can push through 0.50% just yet. Nonetheless, Bund yields could provide the EUR with a lift; we favour EUR/USD edging back to the 1.1725/35 area this week (support at 1.1600).”