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Euro Little-Changed as Consumer Confidence Hits 7-Year High

David Maycotte

Talking Points:

  • German GfK Consumer Confidence Highest in 7 years
  • Euro Response Muted After Data Crossed the Wires
  • Focus RemainsFebruary’s Euro-zone’s CPI Report

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German Consumer Confidence rose to its highest level since January 2007, speaking to consumers’ upbeat mood about their future income. The forward-looking consumer gauge rose to 8.5, and beating expectations calling for a print of 8.2. The Euro was little-changed on the positive outcome as traders remain focused on the implications of lingering disinflation on ECB monetary policy. Within that context, the spotlight is on Thursday’s Eurozone February CPI for further directional cues ahead of the March ECB meeting.

EUR/USD 5-Minute Chart. February 26, 2014

Euro_Little-Changed_as_Consumer_Confidence_Hits_7-Year_High_body_Picture_1.png, Euro Little-Changed as Consumer Confidence Hits 7-Year High

Charted created by David Maycotte using Marketscope 2.0.

-- Written by David Maycotte, DailyFX Research Team. Questions, comments or concerns can be sent to dmaycotte@FXCM.com.

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