Main market movers today: German industrial output and trade balance – Danske Bank

The Danske Bank analysts provide brief insights on the key German economic data due to be released shortly at 0600 GMT.

Key Quotes:

“Today is a quiet day in terms of data releases. However, two important releases are due in Germany today, the first being the industrial production for May, which will give a hint at where Q2 GDP growth will arrive, with both PMIs and Ifo numbers pointing towards a weak outcome (we expect 0.2% q/q).

The April industrial production showed a weak start to Q2, with the largest fall in German industrial production in almost four years and we expect continued downside risks to euro area macro key figures the coming weeks.

We will also get trade balance key figures out of Germany, which will give further indications as to the impact of the ongoing trade war as well as to what extent the Brexit stockpiling in Q1 has temporarily boosted euro area exports.”