EURUSD: Italy Industrial Orders and Sales Beat Expectations
Here is the scorecard from the Italian Industrial Sector:
Italy Industrial Orders s.a (month over month) came in at 2.5 percent beating expectations of -1.4 percent in May.
Italy Industrial Sales s.a. (month over month) registered at 1.6 percent forecasts of -0.5 percent in May.
Italy Industrial Orders n.s.a (year over year) came in at -2.5 percent above expectations of -4.2 percent in May.
Italy Industrial Sales n.s.a. (year over year) registered at 0.3 percent forecasts of -2.5 percent in May.
EURUSD didn’t react much on the news but it added about 5 pips just to move away from the daily low at 1.1212. The FTSE Mib in Milan is trading 0.08 percent higher at 9,351.20.
Italian debt of €2.4 trillion is significantly bigger than its economy, it represents an economic black hole big enough to threaten the financial stability of Italy and the rest of Europe. The crisis between EU and Italy over the Italian Government’s 2019 budget still worries investors amid dismal macro data coming out of the debt troubled economy.Don’t miss a beat! Follow us on Twitter.