German GfK Consumer Confidence declines to -29.7 in February vs. -24.5 expected
Source Fxstreet
- Consumer confidence is expected to deteriorate further in Germany.
- EUR/USD stays in negative territory below 1.0850 early Friday.
Consumer sentiment in Germany is expected to continue to weaken in February, with the GfK Consumer Confidence Index dropping to -29.7 from -25.4 in January. This reading came in worse than the market expectation of -24.5.
Assessing the survey's findings, "If there were any hopes of a sustained recovery in sentiment, these were dashed in January," said Rolf Buerkl, consumer expert at the GfK Institute and the Nuremberg Institute for Market Decisions (NIM), pre Reuters. "The consumer climate suffered a severe setback at the beginning of the year."
Market reaction
EUR/USD stays on the back foot following this disappointing data and was last seen losing 0.2% on the day at 1.0825.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Ethereum Price Forecast: ETH faces heavy distribution as price slips below average cost basis of investorsEthereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
Ethereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
Gold Price Forecast: XAU/USD falls below $5,050 as traders await US jobs data Gold price (XAU/USD) attracts some sellers near $5,035 during the early Asian session on Tuesday. The precious metal edges lower amid improved risk sentiment and some profit-taking. Traders brace for key US economic data later this week, including delayed employment and inflation reports.
Gold price (XAU/USD) attracts some sellers near $5,035 during the early Asian session on Tuesday. The precious metal edges lower amid improved risk sentiment and some profit-taking. Traders brace for key US economic data later this week, including delayed employment and inflation reports.
TexasWest Capital CEO Christopher Inks argues Bitcoin's drop is a completed "degrossing" event, structurally distinct from the 2022 Terra-induced collapse.
Gold (XAU/USD) attracts some dip-buyers following the previous day's modest slide and climbs back above the $5,050 level during the Asian session on Wednesday.
