Market Wire
EU Consumer Confidence Continues to Notch Higher

Market Wire

April 20, 2017 by Sean Coakley

Flash European consumer confidence came in at -4 today, beating expectations of -5 and continuing a general trend of better-than-expected economic data out of the Eurozone.

While this is by no means a reason to celebrate, as a negative read still indicates pessimistic sentiment, the numbers do signal that the Eurozone’s slow recovery from the financial crisis remains on track.

The market response has been muted, but European equities continue to outpace North American shares while the euro outperforms both the greenback and pound sterling.

Bottom Line: A sustained recovery in the EU will eventually prompt a more hawkish stance from the European Central Bank. While the ECB has already taken steps to ratchet down its quantitative easing program, continued good news out of the EU is likely to accelerate this process. Euro bulls may yet rejoice.

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About the Author:

Sean Coakley - Regional Account Manager, Market Strategist

Sean specializes in developing and executing process-driven hedging strategies designed to mitigate corporate and institutional clients’ FX risk exposure while enhancing their competitive position. Sean is a CFA Charterholder, and an active member of Cambridge’s market research team, responsible for producing Daily Market Analysis.

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