Talking Points
- The ‘flash’ figure for consumer confidence in the Euro-Zone came in lower than expected at -3.30 in May.
- That was worse than the -3.00 predicted but still an improvement on April’s -3.60.
- Check out the DailyFX Economic Calendar and see what live coverage of key event risk impacting FX markets is scheduled for next week on the DailyFX Webinar Calendar.
Consumer confidence in the Euro-Zone continued to climb in May, according to the latest “flash” estimate by the European Commission. Although below the -3.00 predicted by economists in a poll, the actual figure of -3.30 was still higher than April’s -3.60.
That continued a long upward trend that has taken the indicator up to its highest level since 2007, well above its long-term average.
However, the figures tend not to be market-moving and the miss hit EUR/USD only modestly, barely interrupting the Euro’s Friday climb against a generally weak US Dollar.
Chart: EUR/USD 5’ Timeframe (May 19 Intraday)
--- Written by Martin Essex, Analyst and Editor
To contact Martin, email him at martin.essex@ig.com
Follow Martin on Twitter @MartinSEssex
If you’re looking for trading ideas, check out our Trading Guides; they’re free and updated for the second quarter of 2017
If you’re looking for ideas more short-term in nature, check out the IG Client Sentiment Data
