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
The dollar weakened, equities fell, and gold set new records on Wednesday as investors waited for a Fed rate cut later in the day.
After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
My Top 5 Stock Market Predictions for 2026Five 2026 market predictions written in a native, news-style voice: AI’s winners and losers, broader sector leadership, dividend demand, valuation cooling as the Shiller CAPE sits at 39 (Dec. 31, 2025), and quantum-computing bursts—while keeping all original facts and numbers unchanged.
Five 2026 market predictions written in a native, news-style voice: AI’s winners and losers, broader sector leadership, dividend demand, valuation cooling as the Shiller CAPE sits at 39 (Dec. 31, 2025), and quantum-computing bursts—while keeping all original facts and numbers unchanged.
Gold slumps to near $5,050 on oil-driven inflation fears, stronger US DollarGold price (XAU/USD) falls to around $5,065 during the early Asian session on Monday, pressured by a stronger US Dollar (USD) and inflationary risks. Traders will closely monitor the developments surrounding the US-Iran conflicts and geopolitical risks in the Middle East.
Gold price (XAU/USD) falls to around $5,065 during the early Asian session on Monday, pressured by a stronger US Dollar (USD) and inflationary risks. Traders will closely monitor the developments surrounding the US-Iran conflicts and geopolitical risks in the Middle East.
West Texas Intermediate (WTI) crude oil price gave up gains from the previous session, trading around $81.70 per barrel during the Asian hours on Wednesday.
