German Consumer Sentiment slightly falls for December

Consumer sentiment in Germany has weakened once again this month. While the consumer climate has fallen slightly for the fourth time in a row, its decline is significantly less than in previous months. Following a value of 9.4 points in November, the overall indicator is forecasting 9.3 points for December. While the willingness to buy rose modestly in November, both the economic and income expectations have suffered slight losses.

German consumer confidence is continuing to wane, while economic expectations are maintaining their downward trend. The persistently high influx of asylum seekers has seen economic optimism fall further, and has also had a detrimental effect on the income expectations indicator, which has also experienced losses. In contrast, the propensity to consume is currently bucking this trend and, despite the general economic downturn, actually increased this month. 

Euro is currently being traded around 1.05080 level. Pair is likely to find support around 1.0550 handle and resistance above 1.0610 area. 

Spanish CPI at an annual rate of -0.3%

The annual rate for the overall Spanish Consumer Price Index (CPI) in October was ‒0.7%, two tenths higher than that registered in the previous month. Analysts were predicting  annual rate of -0.5%. The annual change of core inflation increases one tenth, reaching 0.9%. The monthly change of the overall index is 0.6%.

EUR/USD Daily Forecast – 27 November

Euro was traded in a tighter range this in the course of the session yesterday, with area above 1.0630 level offering some amount of resistance and with support around 1.06 handle. It was a less volatile session with no major data releases both from Eurozone and USA and moreover with US banks being closed in observance of Thanksgiving holiday. We cannot expect any larger movements tomorrow as well. Read more...

EUR/USD Daily Forecast – 27 November

Yesterday's session brought M3 Money Supply figures from Eurozone.The annual growth rate of the broad monetary aggregate M3 increased to 5.3% in October 2015, from 4.9% in September, averaging 5.1% in the three months up to October. No change was expected. The components of M3 showed the following developments. The annual growth rate of the narrower aggregate including currency in circulation and overnight deposits (M1) stood at 11.8% in October, compared with 11.7% in September.