FX Headlines: European Data Watch for June 24, 2013
EUROPEAN FX HEADLINES: WEEK OF JUNE 23
EURO-ZONE ECONOMIC CALENDAR
The German IFO survey is a useful barometer of economic conditions because of its timeliness. Germany has been the Eurozone’s anchor throughout the Euro-zone crisis, and any slowdown in business conditions are thus amplied, and will portend poorly for Euro. For this release in particular, the Business Climate readings have disappointed two of the last three times, although the figure is supposed to increase to 105.9 (Bloomberg News survey), up from May’s 105.7.
Recent talks about QE tapering in the US have also spurred a risk off environment, which would exacerbate any Euro weakness on a miss at a time when credit spreads have been widening between core and peripheral nations. The spread between 10YR Spanish and German bonds is the highest since June 6 (+313.8bps at the time of writing).
UK ECONOMIC CALENDAR
There are no key events on the calendar for the British Pound on Monday, June 24.
SWISS ECONOMIC CALENDAR
There are no key events on the calendar for the Swiss Franc on Monday, June 24.
See the DailyFX Economic Calendar for a full list, timetable, and consensus forecasts for upcoming economic indicators. Want the forecasts to appear right on your charts? Download the DailyFX News App.
--- Written by Christopher Vecchio, Currency Analyst and Kevin Jin, DailyFX Research
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