Euro area Q1 GDP and China’s FX reserve data amongst market movers today – Danske Bank

Euro area’s final GDP figures and China’s FX reserve data are amongst the key economic releases according to the analysts at Danske Bank which are likely to garner maximum investors attention.

Key Quotes

“Final euro area GDP figures are due today, providing insights into the composition of Q1 growth, which accelerated to 0.5% q/q. It will be particularly interesting to see whether the expected pickup in investments and slowing of private consumption growth is confirmed by the data. In 2017, we still expect solid GDP growth of 1.7% in the euro area. Today also brings German factory orders for April. Following two months of increases, we expect a decline in factory orders of about 0.7% for April.”

“In China, FX reserve data is released. We expect FX reserves in May to increase due to valuation as the USD weakened significantly and thus increased the USD value of euro reserves for example and as outflows have stopped following the tightening measures of the government. The Polish central bank holds its monetary policy meeting today, but we expect the bank to keep its policy rate unchanged at 1.5%.”