Euro – European Markets Data released earlier today indicated that German GfK consumer confidence eased unexpectedly for September for the first time in more than one and a half years, as shoppers grew more cautious on account of the prevailing weakness in the region’s economy. Additionally, French business sentiment and Italy’s consumer morale showed deteriorating signs for August. With domestic conditions in the three key European economies showing no signs of improvements after the earlier stimulus measures from the central bank, further downside risks to the region’s economic growth cannot be ruled out. In the midst of steadily rising risks of the Euro zone economy sliding into deflation, this week’s inflation data from key European nations will be closely monitored in order to determine the policy actions that the ECB would embrace in the coming period. However, the Euro is trading on a firmer footing against the majors this morning. Meanwhile, with no important economic releases in the Euro zone yesterday, the Euro lost ground against the greenback and remained below the 1.32 mark following upbeat US macro data.
Posted on: Wed, 27 Aug 2014 10:00:52 +0000
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