European Commission consumer sentiment survey seems to have improved in December

The European Commission consumer confidence survey is expected to have improved in December. The sentiment index had risen to its highest level since April 2015 in the preliminary estimate before Christmas. The rate of improvement might be slightly more subdued in the other components but there would possibly be a rise in the overall economic sentiment index.

“Our forecast of 106.7 would be consistent with GDP growth of 0.7 percent qoq in 4Q (we look for 0.4 percent qoq)”, said Societe Generale in a research report.

The European Commission confidence figures have been higher than the PMIs in the recent years on a standardised basis.

At 09:00 GMT, the EUR/USD pair is trading at 1.0515. Meanwhile, at 09:00 GMT the FxWirePro's Hourly Strength Index of Euro was neutral at -46.0698, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at -12.6144. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex