Italy May industrial orders +3.6% vs -1.3% m/m prior

Author: Justin Low | Category: News

Latest data released by Istat - 17 July 2018

  • Prior -1.3%; revised to -0.6%
  • Industrial orders NSA +4.9% y/y
  • Prior +6.4%; revised to +7.2%
  • Industrial sales +1.7% m/m
  • Prior +0.3%; revised to +0.2%
  • Industrial sales WDA +5.0%
  • Prior +4.0%; revised to +3.9%
Relatively solid readings and the revisions were strong for factory orders. I would say it is a solid report, but one that offers very little to the euro given that it is a lagging data point - and not as important as the German factory activity.

Nonetheless, a welcome piece of data surely by the ECB. EUR/USD continues to sit near the highs at 1.1732 currently. EUR/JPY is at 131.79, in a similar position. While EUR/GBP is at 0.8861 also sitting near the highs as sterling gives up some gains ahead of the data later.

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