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Forex Flash: Europe ends year with positive economic data? - BBH

By FXstreet.com,  December 28, 2012, 11:04:00 AM EDT

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts have noted that as we crawl towards the year end, it would seem that European economic news is, on the face of it, positive.

Spain, reported a small current account surplus in Octover, which is the third of the year and supports the teams expectation for reduced imbalances within Europe to ease the Target2 imbalances. Spain reported capital inflows of EUR 12.1 bln after EUR 31bln in September. Foreign portfolio inflows were EUR 6.3bln following EUR 9.3bln in September.

The team note that Spain also reported retail sales that had only fallen 7.8% year-over-year rather than 10% the market expected. France revised Q3 GDP to 0.1% from 0.2%, but Nov household consumption was a bit stronger at 0.2%.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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