Today is shaping up to be a lively one for financial markets, with a raft of important data already making waves – and more to come.
French Consumer Confidence Boosts the Euro
The day kicked off with France’s consumer confidence figures, which came in slightly above expectations.
This small but significant surprise helped lift the euro by 0.15% against its major counterparties, offering a welcome boost to the single currency.
German Business Climate Data in Focus
Next up, attention turns to Germany, where the latest IFO business survey results are due this morning.
The key figure to watch will be the business survey index. Expectations are mixed, but investors will be paying close attention to what these numbers reveal about sentiment in the EU’s largest economy.
US Data to Drive Afternoon Market Sentiment
Later today, focus shifts across the Atlantic with several important data releases from the United States.
Markets will be digesting durable goods orders, employment figures, existing home sales, and the weekly national gas storage report.
Given the current volatility in the US economy – largely fuelled by President Trump’s previous tariff measures – all eyes will be on these data points for signs of how the American economy is weathering the storm.
The Dollar Regains Strength After a Rocky Start
After a rocky start to the week, the US dollar has regained some strength.
This turnaround followed a sharp attack by President Trump on Federal Reserve Chair Jerome Powell, whom he labelled a ‘loser’ for maintaining interest rates. Investors had been unsettled by the rhetoric, but confidence was partially restored when Trump later adopted a more diplomatic tone, suggesting Powell could do more to stimulate the economy through rate cuts.
UK Consumer Confidence Hits a Record Low
Meanwhile, the UK has its own concerns. Consumer confidence has fallen to a record low as worries grow over the impact of Trump’s trade wars.
Consumers’ expectations for the economy have plummeted, with the index dropping from -35 to -48. Personal financial outlooks also worsened, falling from -10 to -16 in just one month.
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