Macro, markets, ECB, trade, fiscal policy
Monaco / Cap d’Ail – Sixteen days remain before the start of the 83rd Monaco Grand Prix, scheduled from Thursday 4 to Sunday 7 June 2026 on the legendary Monte-Carlo circuit. The French Riviera tourism ecosystem — particularly the French communes bordering the Principality (Cap d’Ail, Beausoleil, Roquebrune-Cap-Martin) — enters its final operational phase after…
Brussels – The European Parliament and Council enter this week the decisive phase of trilogue negotiations on two legislative proposals implementing the so-called EU-US Turnberry deal, the framework on tariff and trade exchanges announced in July 2025 at the Turnberry resort in Scotland. The deal, brokered between Commission President Ursula von der Leyen and former…
In short: The European Central Bank held its deposit facility rate at 2% on 30 April 2026, the third consecutive hold, as it weighs the inflationary impact of the Iran war against signs of slowing growth in the euro area. President Christine Lagarde projected average headline inflation of 2.6% in 2026, with the conflict in…
In short: The European Commission announced on Monday 18 May 2026 a proposal to mobilise €144 million from the EU Solidarity Fund to support recovery operations in Spain, Romania and Cyprus following a series of climate-related disasters in late 2025 and early 2026. The proposal must now be approved by the European Parliament and the…
The European Central Bank held its three key interest rates unchanged for a third consecutive meeting on 30 April 2026, leaving the deposit facility rate at 2.00%, the main refinancing rate at 2.15%, and the marginal lending facility at 2.40%. But the holding pattern is unlikely to last: a Bloomberg survey conducted between 4 and…
Industrial production in the euro area rose by 0.2% and in the EU as a whole by 0.8% in March 2026 compared with the previous month, according to first estimates published by Eurostat on Tuesday 13 May 2026. The data confirm a fragile sequential recovery — but the annual comparison remains firmly negative, with output…
Industrial production in the euro area rose by 0.2% and in the EU as a whole by 0.8% in March 2026 compared with the previous month, according to first estimates published by Eurostat on Tuesday 13 May 2026. The data confirm a fragile sequential recovery — but the annual comparison remains firmly negative, with output…
Eurozone services PMI confirmed at 47.6 in April 2026, dropping into contraction. Germany 46.9, France 46.5, Spain crashed to 47.9 from 53.3. The energy shock is destroying consumer purchasing power across Europe’s largest economies.
German factory orders rose 5.0% MoM in March 2026, beating consensus 1.0% by five times, driven by defense procurement acceleration across Europe, front-loaded orders ahead of Iran war supply-chain disruptions, and a weak euro boosting exports.
Eurozone manufacturing PMI confirmed at 52.2 in April 2026, with Spain leading at 51.7, Italy at 52.1, France 52.8 and Germany 51.4. Defense procurement and auto orders are sustaining factory output even as consumer-facing services collapse.