Euro showed a slight drop yesterday following lower-than-expected business confidence figures, seven points below expectations. Consumer confidence was down six points to -7.9 month-on-month, and economic sentiment also showed a drop.
This morning, France’s GDP growth rate came in at a sluggish 0.3%, as expected. On a positive note, German consumer confidence figures posted a slight increase above expectations, at 10.4. Unemployment held steady at 4.9% in Germany.
Later this morning, we will see Italian GDP growth, and it will be interesting to see how one of the more problematic Eurozone economies is faring. This afternoon, we’ll see the preliminary German inflation rate, expected to show an increase year-on-year.
