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
Since 2026, gold has erased almost all of its gains and has fallen more than 20% from its record high of $5,595 set at the end of January. Has gold bottomed out? Is now the time to add to
West Texas Intermediate (WTI) oil price inches higher after registering 3.7% losses in the previous day, trading around $80.10 per barrel during the Asian hours on Tuesday.
Bitcoin prices surge past $65,000 as U.S. and Iran reach a new agreement, with the $70,000 mark in sight this week.On June 15, Bitcoin ( BTC) continued its rebound, decisively breaking th
Gold Rallies for Third Straight Day. Trump Says US-Iran Deal Will Be Reached, Can Gold Prices Return Above $4,500? As of the Asian session today (June 15), driven by significant progress in US-Iran negotiations, gold prices today ( XAUUSD) gapped higher at the open, with intraday gains exceeding 2%; m
As of the Asian session today (June 15), driven by significant progress in US-Iran negotiations, gold prices today ( XAUUSD) gapped higher at the open, with intraday gains exceeding 2%; m
Gold rises to weekly high as US, Iran reach peace dealGold price (XAU/USD) rises to a weekly high during the Asian trading hours on Monday. The precious metal rebounds after the United States (US) and Iran had reached a deal to end their conflict, easing concerns about inflation and higher interest rates.
Gold price (XAU/USD) rises to a weekly high during the Asian trading hours on Monday. The precious metal rebounds after the United States (US) and Iran had reached a deal to end their conflict, easing concerns about inflation and higher interest rates.
