French Consumer Confidence Indicator Rose Unexpecdly in March
THE TAKEAWAY: French consumer confidence indicator (MAR) comes in five points higher than expected -> Indicator seen as sign of a recovering economy -> EUR/USD takes back part of earlier day losses
The French consumer confidence indicator rose to an eight-month high on Tuesday. The measure of sentiment came in at 87 for the month of March, five points better than expected and five points above the previous.
Higher levels of consumer confidence could stimulate to a recovering economy by propping spending. Today’s release was derived from 2000 telephone surveys of French households.Following the release of the numbers, EUR/USD climbed 10 points, but remained down twenty points from an earlier day high.
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