Economic confidence for the Eurozone is expected to rise slightly in August

Economic confidence for the Eurozone is expected to rise slightly in August

2020-08-28 • Updated

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Ichimoku Kinko Hyo

USD/JPY: The USD/JPY pair is now trading out of the cloud. A new bearish sentiment is in force.

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European Market View

As expected, the Fed has now officially changed regime from a traditional 2% inflation target to a flexible average inflation target.

The positive sentiment in the US equity market continues on the back of the very dovish statement from Fed Chairman Powell.

Economic confidence for the Eurozone is expected to rise slightly in August compared to July as the global economy is strengthening.

In the US, today's monthly private consumption data for July are going to be interesting.

Retail sales grew – again- in July (despite high-frequency indicators suggesting otherwise) but it may be the case that consumers substituted away from services into goods. Everything will be more clear at 14:30 CEST.

European Key Point

  • Fed has now officially changed regime from a traditional 2% inflation target.
  • The positive sentiment in the US equity market continues.
  • Economic confidence for the Eurozone is expected to rise slightly in August.

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