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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EUROZONE DATA
The Euro area Nov flash reading of consumer confidence (-23.9 vs a revised -27.5 in Oct and -26.0 expected) marked a 5-month high and points to bottoming out in sentiment.
- But it's all relative: the indicator remains near all-time lows and has been below -20 since March, consistent with previous crisis levels (2008-09, 2012, 2020).
- Sentiment lines up closely with the "misery" index (unemployment + inflation): this time it's inflation providing most of the drag, with the unemployment rate steady / falling.
- When CPI starts to moderate, sentiment will probably turn higher as well. But for now the consumer confidence data merely poses the question "it can't get any worse...can it?"
Source: Eurostat, MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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