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The Euro Awaits Indicator of Consumer Confidence
What will happen?
The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2. It is based on a survey of 2000 individuals. The components of the indicator are calculated as the difference between positive and negative answers to the questions asked.
Why is it important?
Consumer Confidence shows how individuals see current economic conditions and give a preview into the economic activity of the Eurozone. If the level of indicator is strong, it indicates better economic conditions. As a result, the euro rises.
How to trade on the GfK Consumer Confidence?
Follow the economic calendar and compare the actual figures with the consensus given.
- If the sales are higher than the forecasts, the EUR will rise;
- If the situation is different, the EUR will fall.
Instruments to trade: EUR/USD, EUR/GBP, EUR/JPY
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