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Euro-Zone Investor Confidence Rises Ahead of ECB Meeting, Euro Firms

Euro-Zone Investor Confidence Rises Ahead of ECB Meeting, Euro Firms

2017-09-04 09:00:00
Martin Essex, MSTA, Analyst

Talking Points

- Sentix index rises to 28.2, beating expectations of a fall to 27.0 from the previous 27.7.

- The figures are among the latest ahead of this Thursday’s European Central Bank policy meeting.

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Sentiment among investors in the Euro-Zone has improved according to the latest Sentix investor confidence index, which is based on a survey of more than 900 professional investors and financial analysts by the German market research firm.

The indicator is one of the last ahead of Thursday’s monetary-policy announcement by the European Central Bank, which will be watched carefully for any hints that the ECB is planning to reduce its monetary stimulus for the Euro-Zone economy either in the form of higher interest rates or, far more likely, a reduction in its €60 billion per month asset-purchase program.

However, the announcement of a so-called “tapering” of the program is increasingly seen as more likely after the October 26 or even the December 14 meetings of the central bank’s Governing Council, paving the way for action early in the new year. The ECB has made it clear that the strength of the Euro is a concern as that has already tightened monetary policy indirectly, pushing a tapering of the bond-buying program further into the future.

The Sentix index rose to 28.2 in September from 27.7 in August when a fall to 27.0 had been predicted. In response, the Euro firmed moderately, moving closer to the psychologically important 1.20 level that was breached briefly last week.

Chart: EUR/USD Five-Minute Timeframe (September 4, 2017)

Euro-Zone Investor Confidence Rises Ahead of ECB Meeting, Euro Firms

Chart by IG

The economic indices for the Euro-Zone signal stability in September, Sentix commented, adding that both the current situation and expectations indices showed little change from the previous month.

--- Written by Martin Essex, Analyst and Editor

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