| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:00 | Germany | Factory Orders s.a. (MoM) | November | -3.8% | 1% | 0.3% |
| 07:00 | Germany | Trade Balance (s.a.), bln | November | 17.8 | 17.9 | 20.4 |
| 07:30 | Switzerland | Consumer Price Index (YoY) | December | 1.4% | 1.5% | 1.7% |
| 10:00 | Eurozone | Retail Sales (YoY) | November | -0.8% | -1.5% | -1.1% |
EUR appreciated against most of its major rivals in the European session on Monday as investors digested a slate of economic data out of the euro area.
In particular, sentix announced its overall economic index for the Eurozone improved for the third straight month in January, hitting -15.8 points, the highest level since May 2023. Economists had predicted the measure rose to -15.5. Situation and expectation gauges gained by 1.0 point each, sentix stated in its release.
Meanwhile, a report from Eurostat featured a 0.3% MoM decrease in the religion’s retail sales in November 2023, in line with economists’ forecasts.
It should be noted, however, that both reports highlighted the poor contribution of the German economy, the largest one in the euro area. Germany’s retail trade volume declined by 2.5% MoM in November, the most among the member states. The sentix overall economic index for Germany fell by 0.6 point to -26.1, as both situation and expectation values declined, emphasising that the recession in the country
persists.
In addition, the Federal Statistical Office’s report revealed that factory orders in Germany increased much less than expected in November. According to the report, German factory orders only grew 0.3% MoM in November, under economists’ estimates of 1.0% MoM.
On a positive note, Germany posted a larger-than-anticipated 3.7% rebound in exports in November. This was the first growth in exports since August.