Talking Points
- Euro-Zone growth is robust and the latest PMIs point to further growth.
-. Will investor sentiment back up the recent hard data prints?
- See the DailyFX Economic Calendar and see what live coverage for key event risk impacting FX markets is scheduled for next week on the DailyFX Webinar Calendar.
The first look at Euro-Zone confidence for May will likely underpin the recent strengthening of the shared currency. After hitting an eight-year high last month, the Sentix Confidence Indicator is expected to push higher still, as the EU continues to pull back from last year’s weakness.
Euro-Zone growth hit 0.5% in Q1, with Spain and Austria both beating expectations. Germany will release its figures on Friday May 12 and will likely reveal growth of 0.6%, with an upside beat not ruled out.
With France choosing Emmanuel Macron as the next President, another layer of uncertainty has been removed from the market, leaving the EUR able to push higher. Will the single currency push further ahead and which currency pairs are best looked at?
Chart: EURUSD Daily Timeframe (January – May 8, 2017).
--- Written by Nick Cawley, Analyst
To contact Nick, email him at nicholas.cawley@ig.com
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