Several sentiment indicators to be released from Euro zone at 9:00 GMT, today. The data most likely to show that sentiment has improved in May in spite of ongoing Greek debt debacle.
In April overall sentiment moved down, as tension was there whether Greece will be able to honor its payments or not.
- Consumer confidence deteriorated in April to -5.5 from -3.7 prior. Today it is expected to remain at same level.
- Business climate improved in April to 0.32 from 0.23 in March. Today it is expected to improve further to 0.35.
- Services sentiment improved in April to 6.7 from 6 in March today it is expected to remain same.
- Economic sentiment dropped in April to 103.7, from 103.9 prior. Today another drop is expected to 103.5.
- Industrial confidence dropped to -3.2 in April from -2.9 prior. Today it is expected to bounce back to -3.
Euro is currently trading at 1.095 is most likely to shrug off data. However weaker than expected reading would mean prolonged recovery and continued ECB purchase program.
Better than expected reading would be boost for European stocks.
The material has been provided by InstaForex Company – www.instaforex.com