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Euro area confidence increased to +15.1

Monday, Nov 09 2015
The sentix Economic Index for the Euro area continues to rise, gaining +3.4 points, reaching +15.1 points in November, beating forecasts on incline to +12.4. Within Europe, expectations rise for Germany and especially Switzerland while Austria lags behind. Reason for rising economic expectations is gaining confidence in Asian markets. The index for “Asia ex. Japan” gains solid +10.3 points thus vitalizing economic expectations for the rest of the world as well. Relative gainers are Japan and Latin America. 
 
Foremost, improvements of economic expectations for Asia ex. Japan affect the Euro area positive. Moreover, this global sentiment boost has for reaching influence on previously grim looking economies: even Eastern Europe and Latin America gain. Export dependant economies such as Switzerland are particularly benefitting. Despite the positive news, a string is attached: institutional investors reveal that their inflation expectations plunge from +16.5 to -11.5 points in November. Hence, bond markets could turn sour over such surprising negative implications in the weeks ahead. 
 
Euro is currently being traded around 1.0770 area. Pair is likely to find support around 1.07 handle and resistance above 1.08 level. There will be no major data releases in the rest of the session.
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