Economic Confidence Improves in Europe
EUR/USD has increased above 1.22 today, as economic confidence improves
Skerdian Meta•Thursday, February 25, 2021•1 min read
Earlier this morning, we saw the German GfK consumer climate improve, but it remains negative at -12.9 points. Later on, the consumer confidence report form the Eurozone also came in above expectations, but the consumer confidence remains negative at -14.8 points. Despite that, the EUR/USD is more than 100 pips higher today.
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Eurozone February Consumer Confidence
- Economic confidence February 93.4 points vs 92.1 expected
- January confidence was 91.5 points
- February final consumer confidence -14.8 points vs -14.8 prelim
- Industrial confidence -3.3 points vs -5.0 expected
- Prior -5.9 points; revised to -6.1
- Services confidence -17.1 points vs -17.4 expected
- Prior -17.8 points; revised to -17.7
Euro area economic confidence has improved slightly in February, as there is some degree of optimism flowing in terms of the outlook ahead of the summer. However, present conditions continue to be affected by tighter restrictions, so that is a factor to consider.
Remarks by ECB chief economist, Philip Lane
- ECB is closely monitoring the evolution of long-term nominal bond yields
- We will need to provide ample monetary accommodation for an extended period
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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