Flow of Euro Data Continues Monday with Sentix, Industrial Production
The euro declined in the second half of the week after ECB President Mario Draghi confirmed the central bank was considering quantitative easing and a negative deposit rate to stimulate recovery. With Eurozone inflation falling to 0.5 percent annually, expectations are high the central bank will adopt more aggressive policy to push up prices in the currency region.
Against a backdrop of policy speculation, the euro will continue to react to several headline indicators next week. On Monday Sentix will release its monthly investor confidence indicator. Investor confidence in the Eurozone continued to rise last month, despite escalating tensions in Crimea. The headline indicator increased from 13.3 to 13.9 last month. For April, economists forecast a narrower increase to 14.2.
On Monday the Federal Statistics Office will report on German industrial production The data are expected to show industrial production increased 0.3 percent in February, following a 0.8 percent hike the prior month.
German data will be of particular interest, as forex traders continue to assess recovery in Europe’s largest economy. German consumer inflation eased to 0.9 percent annually in March, down from 1 percent the previous month. Germany’s composite PMI indicator, courtesy of Markit Group, fell to a three-month low.
In Friday’s afternoon session, the EURUSD pair had recovered from a session low of 1.3673. The pair was trading at 1.3697, down more than 0.1 percent. The euro tread water against the pound, consolidating at 0.8266 GBP.Home » Finance News » Forex
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