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Euro-Zone Consumer Confidence Misses Expectations in May

Euro-Zone Consumer Confidence Misses Expectations in May

2017-05-19 14:27:00
Martin Essex, MSTA, Analyst
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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.

Euro-Zone Consumer Confidence Misses Expectations in May

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)

Euro-Zone Consumer Confidence Misses Expectations in May

Chart by IG

--- Written by Martin Essex, Analyst and Editor

To contact Martin, email him at martin.essex@ig.com

Follow Martin on Twitter @MartinSEssex

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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