releases video on European growth

From: Saxo Bank
Published: Thu Feb 17 2011, the home of Saxo Bank's trading commentary, financial research and analysis, has released a video discussing the current European growth.

The European growth situation is particularly in focus, with quite a bit of key macro data being published which is expected to confirm the 'growth story'. In the video Mads Koefoed, macro strategist at Saxo Bank's discusses the growth in Europe and in the U.S.

Mads first discusses Eurozone industrial production in addition to the Eurozone and some individual members' GDP reports. The industrial production numbers of -0.1% were a little below consensus expectations but above's expectations of -0.4%. Even though the numbers had declined, the manufacturing sector is still growing strongly in the Eurozone. The declining numbers are thought to be attributed to the very strong November numbers, which saw industrial production rising 1.4% month on month, so some give back is it to be expected in December's numbers. The very poor weather in December will also have had some affect on production numbers. Mads expects the numbers to improve for January.

The overall GDP reports were also fairly good and what was expected. Countries like Spain performed better than expected with a result of 2% up. With Germany continuing to drive the Eurozone, Mads predicts a fairly robust growth in the Eurozone in the fourth quarter.

Furthermore, also in focus is a meeting of Europe's Finance Ministers and any indications of increasing the debt stability of southern Eurozone members. While Mads does not foresee much news coming out of the event, he does foresee them discussing the Germany and France proposal to put in place a measure against debt increase to hopefully ensure a more harmonized corporate tax system in the Eurozone, despite other leaders not being completely behind this.

Finally, in the U.S. there are also some interesting growth indicative numbers, plus the Federal Reserve’s Federal Market Open Committee minutes will be published. Mads points out that the minutes from the meeting are likely to be interesting as they should give an indication of the newly updated growth estimates, inflation estimates and the unemployment rate forecast.

About is the web portal home of Saxo Bank's trading commentary, financial research and analysis.'s diverse contributors who range from macroeconomists to trading advisors, all strive to deliver insightful, enlightened commentary on trading in the financial markets - particularly on forex and forex trading, equities, stocks and commodities. also publishes periodical model-based research and analysis to help longer-term traders allocate funds between and within asset classes.'s commentary and analysis is delivered in text and video via the website, where users can watch forex videos and receive information on products such as CFDs.

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