Euro Zone Sentiment Improves As ECB Opens Qe Tap
Euro Zone sentiment report showed confidence improved as European Central Bank unveiled new stimulus, more so due to its inclusion of corporate securities. However Brexit possibilities seem to be weighing.
Economic improvements in China have also helped to shift the mood on the upside. However, consumer confidence is still lagging other sentiment indices.
Today’s economic survey showed that sentiment across Euro zone broadly improved lagging consumer confidence indicate, large benefits of ECB’s policy easing may not be reaching to them.
- Euro zone business climate improved marginally to 0.13. Still around levels last seen back in February last year.
- Industrial confidence improved to -3.7, but the index is still at levels seen in August last year. Economic sentiment rose to 103.9, much below of 106.8 seen in December last year.
- Services sentiment rose drastically to 11.5, still below last September’s 12.4 reading.
- Consumer remained at -9.7, worst reading since December, 2014.
All in all trend suggests, that Euro Zone confidence picked in April but yet to gain back last year’s pace.
Euro is currently trading at 1.136 against Dollar.
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