Talking Points
- Euro-Zone consumer confidence picked up in June, rising to -1.3 from -3.3, according to a measure published by the European Commission.
- That continues a steady rise from the recent low of -9.7 recorded in March 2016.
- Will this continued confidence be reflected in the Euro-Zone PMIs, published tomorrow at 0800 GMT, and will they affect the Euro? Join my live webinar at 0745 GMT to find out.
Consumer confidence in the Euro-Zone is still improving, according to data calculated by the European Commission. Its confidence measure rose to -1.3 in June from -3.3 in May; considerably better than the -3.0 predicted by economists.
The numbers suggest that broadly positive economic news is still outweighing rising inflation as far as Euro-Zone consumers are concerned. This is in line with data produced by Thomson Reuters/Ipsos, which suggest that consumer sentiment improved in all the Euro-Zone’s four major economies in June. The latest official figure puts consumer confidence at its highest level since 2001 and well above its long-term average.
However, there was little response to the news in the foreign exchanges, where EUR/USD traded at 1.1159.
--- 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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