- Prior +0.2%
- -0.1% vs +1.0% exp y/y. Prior 1.7%
That’s a pretty crappy year on year read. EUR/USD isn’t bothered as it hovers around 1.3722 and it’s being supported by EUR/GBP as cable breaks support at 1.6825 to test 1.6800. Low is 1.6806
There’s some pretty hefty falls in the durables (-0.9% from +0.5%) and non durables (1.3% vs 3.3% prior) components in the year on year numbers, in the 18 states and a similar picture in the EU28 state numbers.
Eurozone industrial production 14 05 2014
Capital goods not looking too hot either.
Eurozone industrial production yy 14 05 2014
The signs are increasing that the recovery could be starting to splutter. I think I’m going to see what tomorrows EZ inflation and GDP numbers bring and may then decide to cut out my longs and look to get in lower.
