Eurozone Economic Sentiment Hits Decade High

Euro-area economic confidence rose to the highest level in a decade as European Central Bank policy makers prepare for a discussion next week about whether and how to pare back stimulus.An index of industry and consumer sentiment increased to 111.9 in August from a revised 111.3 in July, the European Commission in Brussels said on Wednesday. Economists surveyed by Bloomberg predicted an increase to 111.3 from a previously reported 111.2.

The Governing Council is set to start deliberations about the future path of quantitative easing when it meets on Sept. 7. With a booming economy showing few signs of being matched by a sustained pickup in inflation and a surging euro threatening to further damp price pressures, policy makers probably won’t rush an exit.

Source: Euro-Area Economic Confidence Jumps to Decade-High Before ECB – Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.