Latest data released by Eurostat - 17 January 2019

  • Prior -1.6%
  • Construction output +0.9% y/y
  • Prior +1.8%; revised to +0.6%

A continued decline in construction activity, along with a negative revision to boot for October. But markets have very much settled on a softer growth narrative in Q4 2018 for the Eurozone so the data here means little. EUR/USD is still settling around 1.1390-00, little changed on the day. EUR/GBP is now at 0.8848 as the pound recovers some ground on the day.