• German Consumer price and GDP figures
• Italian GDP figures
• Eurozone GDP figures and Industrial production output
• GBPEUR forecast – further losses for Sterling?

Aside from the US retail sales tomorrow, the first big set of data for the Eurozone post-Brexit is due to be released which could represent how the economy is performing since the vote.

I am expecting rates to become volatile at the beginning of the trading day, German Consumer price and GDP figures will be released at 7am. The powerhouse of the EU will be the first to represent key economic data tomorrow, has Brexit put a dent in the German economy?

GDP estimates for Germany have fallen since last quarter from 0.7% to 0.2%, Brexit is considered a huge worry for Germany given its output of manufacturing and cars. The German economy is one of the most important to the EU, given that the EU has shown little signs of economic slowdown since the vote I am expecting data to come in better than predicted.

Italian GDP figures will be released at 10am, whilst I’m not expecting much deviation from expectations, a positive result could soften the Banking concerns raised earlier this month, as non—performing debt makes up 9% of their GDP.

GBPEUR rates could take a further tumble

The German releases at 7am will give investors some indicator as to how the Eurozone as a whole is performing at its 10am release. I am expecting more positive data from the Eurozone tomorrow which could see currency GBPEUR exchange rates fall into the low/mid 1.15’s. Making a currency purchase before the weekend could save you from further losses.

Ahead next Tuesday is the UK’s next round of key data, given the poor PMI performance recently I am not expecting much positive news from the releases, this may be reflective in the consumer price release. The NIESR report this week highlighted GDP estimates for July had fallen by 50%, I am therefore expecting consumer price data to follow a similar trend.