Trade Desk Thoughts - GfK German Consumer Climate

GfK German Consumer Climate Actual 1.8, Expected 1.3, Previous 1.6 (Revised from 1.5)

Release Explanation: A survey of the sentiment of the public regarding current and future economic conditions. Builds an economic picture of the mood of the economy's consumer and therefore how well the Service based economies may fair over the coming months.

Trade Desk Thoughts: The consumer climate in Germany for the month of October was released at 1.8, better than market expectations of 1.3. The forecasted number, 1.5 for the month of September was revised higher to 1.6. German consumers face hard times ahead, as the rising cost of living and an uncertainty regarding the economic future mounts.

Forex Technical Reaction: The euro was unmoved by the release. The pair is now trading near TheLFB R1, after it advanced 100 pips during the Asian session.

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