Forex Flash: EMU industrial production contracting figures may pressure ECB – TD Securities

By FXstreet.com | January 14, 2013 AAA

FXstreet.com (Barcelona) - Despite a much weaker than expected monthly figure in November industrial production in Italy, -1.0% vs -0.2% consensus, the Eurozone data was roughly as expected, as the upward revision to the October figures compensate November's disappointment of -0.3%, but clearly shows another negative month. "If the next two months continue to contract, that is likely to be enough for the ECB to revise their expectations slightly lower and bring easing to the table as we expect", wrote analyst Richard Kelly, with an eye on headlines today when ECB Chief Economist Praet speaks in Brussels at 19:30 GMT, withheadlines already released speaking to the need for the ECB to 'wait and see.'



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