After weak German IP numbers, eyes on ECB minutes – TDS

Research Team at TDS, notes that the German IP came in at –1.3% M/M in May vs the +0.1% consensus, showing the downside that we were looking for.

Key Quotes

“IP has declined now for 3 of the last 4 months, leaving the manufacturing sector looking quite soft in Q2. We also get the latest ECB minutes at 7:30am ET, but we don’t expect to see much there after what was a noneventful meeting, with the ECB in implementation mode.”