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Further EZ data disappointments - BBH

FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted further disappointments from the EZ other than that from the German manufacturing.

Key Quotes

"The second disappointment from the euro area was Italian GDP. The economy had been expected to return to slow growth after the Q1 contraction of 0.1%."

"Even the earlier (today) release a 0.9% rise in June industrial output figures lent support to such hopefulness. The consensus was for a 0.7% gain after the 1.2% decline in May. However, the preliminary Q2 GDP was reported at -0.2% quarter-over-quarter."

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