A few extra interesting things to.....>

EUROZONE DATA: A few extra interesting things to look for:

1) Export orders have remained fairly weak recently. Global trade concerns

haven't really gone away. Also interesting to note on the export front is the

British political situation. The survey period is pretty recent, normally

running from around the 12th of the month to the working day before the flash

release - throughout this period it's looked almost certain that Boris Johnson

would become PM and a hard Brexit was a higher probability than previously. How

that affects exports and confidence going forward will be interesting if it is

mentioned. Could potentially have wider effects and pull the surveys lower.

2) The French numbers have seen a bit of a resurgence recently as the Gilet

Janunes protests have largely stopped. Will we see another positive print from

France or is all of the rebound in confidence all in the number already? If the

latter, then we could see some downside risk to the French numbers.

3) Draghi's Sintra speech came about half way through the survey period for the

June print so any improvement in confidence from further ECB action wouldn't

have been fully reflected in last month's numbers.