German announcements likely the main focus during relatively quiet reporting day

October 11, 2016

A relatively quiet day on the announcement front sees our focus turn mainly to Germany. As the largest European economy, we look to their announcements with keen interest. Their economic strength is key to providing confidence to the rest of the European market. Later today we have the release of both the German ZEW Economic Sentiment an the broader European Economic Sentiment. These indexes are important as they give a reflection of investor confidence in the economic outlook for the Eurozone. With Germany’s largest bank, Deutsche Bank, still under a cloud after being fined $14 billion by the US Department of Justice, these announcements could have even more added importance

Also on the agenda today is UK MPC (Member Policy Committee) member Michael Saunders testifying before the Treasury Select Committee. Although this isn’t a Bank of England policy meeting, his testimony could provide some insights into the Bank of England’s thinking on policy movements in the future.