The assessment of the current situation in Germany has also increased. Gaining 4.4 points, the index now stands at 59.5 points. Financial market experts’ sentiment concerning the economic development of the eurozone has improved notably. The respective indicator has increased by 6.9 points to a reading of 12.3 points. On the other hand, the indicator for the current situation in the eurozone declined by 2.3 points in October 2016 to a level of minus 12.8 points.

On Wednesday from Eurozone Industrial Production figures were published. In August 2016 compared with July 2016, seasonally adjusted industrial production rose by 1.6% in the euro area (EA19) and by 1.4% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In July 2016 industrial production fell by 0.7% in both zones. In August 2016 compared with August 2015, industrial production increased by 1.8% in both zones. The increase of 1.6% in industrial production in the euro area in August 2016, compared with August 2015, is due to production of durable consumer goods rising by 4.9%, capital goods by 2.6%, intermediate goods by 2.0% and energy by 1.5%, while production of non-durable consumer goods fell by 0.1%.

Friday brought Eurozone Trade Balance data. The first estimate for euro area (EA19) exports of goods to the rest of the world in August 2016 was €160.3 billion, an increase of 8% compared with August 2015 (€148.1 bn). Imports from the rest of the world stood at €141.9 bn, a rise of 4% compared with August 2015 (€136.9 bn). As a result, the euro area recorded a €18.4 bn surplus in trade in goods with the rest of the world in August 2016, compared with +€11.2 bn in August 2015. Intra-euro area trade rose to €121.6 bn in August 2016, up by 6% compared with August 2015.

This week markets will be looking at:

Minimum Bid Rate/ECB Press Conference (Thursday 14:30)