Euro-Zone Consumer Confidence Misses Expectations in May
19 May 2017 14:27, GMTTalking 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.
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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
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