One of our Top Q3 Global Macro themes -- #EuropeSlowing -- remains intact following the release of Q2 2015 GDP this morning.
- The Eurozone missed expectations (+0.30% Q/Q vs +0.40%);
- Germany improved from the prior quarter but missed expectations (+0.40% Q/Q vs +0.50%);
- France saw a huge negative divergence, recording 0.0% (exp. +0.20%) vs last quarter of +0.60%.
We continue to recommend remaining short of the EUR/USD (etf FXE).
***If you would like to learn more about how Hedgeye can help you click here.
