German Consumer Climate rose to 10.2 points
Developments in the consumer mood in Germany have not been uniform again in May. The German consumer climate is increasing slightly. Following a value of 10.1 points in May 2015, the overall indicator is forecasting 10.2 points for June. Analysts were forecasting decline to 10.0 points. Economic expectations and willingness to buy increased somewhat, while the income expectations declined moderately.
Very robust domestic demand in Germany and low inflation rates have caused economic expectations and willingness to buy to further improve again. In April, both indicators had to accept further losses. In contrast, the income expectations were not able to completely maintain the highest value since the reunification, which was reached in the previous month.
Euro was pushed higher in the morning part of the session and is currently being traded few points above 1.0910 level. Pair is likely to find support around 1.0850 handle and resistance near 1.0950 area. There will be no major data releases in the rest of the session.
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