What to expect from Eurozone Economy and ECB’s Draghi Speech this week?

November 20, 2017

Eurozone flash inflation and ECB’s Draghi Speech.

What to expect from Eurozone Economy and ECB’s Draghi Speech this week?

This article is originally referred from Orbex Market Preview

The week ahead is relatively quiet with most of the economic data related to second tier information.

In the eurozone the preliminary PMI reports will be coming out covering both the manufacturing and the services sector.

The FOMC meeting minutes will be the main event of the week although it is unlikely that the report will bring about much surprise to the markets.

Retail sales figures for the third quarter from New Zealand will be coming out while monthly retail sales numbers from Canada make up for other important events over the week.

Eurozone flash inflation and ECB’s Draghi Speech

Data from the Eurozone is relatively light this week.

However, the week starts off with a scheduled speaking event from the ECB President Mario Draghi.

The ECB governor has remained fairly quiet as far as monetary policy was concerned. This comes about as the ECB cut back on its QE purchases at the October monetary policy meeting.

Eurozone growing steady

Other ECB officials have however continued to defend the central bank actions taking a cautious stand amid slower pace of inflation increase.

The week ahead will also see the release of the flash manufacturing and services PMI data from the Eurozone and other main economies in the region.

Growth in the Eurozone has remained robust according to recent GDP numbers released last week.

The flash manufacturing and services PMI numbers are expected to show that the economic momentum likely maintained pace into the month of November.

It is quite likely that the Eurozone economy could close on a high this year.

Original Source: Orbex Market Preview

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