Euro – European Markets The GfK survey released earlier today revealed that morale among German consumers improved more than expected for January, registering its third consecutive monthly rise. Considering encouraging ZEW and Ifo surveys released earlier this week, today’s data has strengthened hopes that the overall macro picture in Europe’s largest economy is improving. However, market participants remained concerned over whether improving consumer morale will provide support to Germany’s weak inflation, especially amid prospects of a deflation in the Euro zone. Additionally, another report revealed that German producer prices fell less than expected for November. However, the Euro showed little reaction to today’s data and has remained range bound against the greenback. Meanwhile, the Euro lost ground against the greenback yesterday and fell below the 1.23 mark. In a noteworthy development, the EU concluded its two-day meeting yesterday, where it expressed concerns over Greece’s political scenario and announced further sanctions on Russia, banning investments in the Russian annexed Ukrainian regions.
Posted on: Fri, 19 Dec 2014 14:21:52 +0000
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