French consumer confidence index rises to decade high in June

France’s consumer sentiment rose to a decade high in June, coming up above consensus expectations. The other notable economic data released today were in line with a widening economic recovery. The latest monetary figures of the ECB indicated the adjusted growth rate of bank loans to the private sector in the euro area unchanged at 2.6 percent year-on-year, with lending to households up at the same rate, 0.2 percentage points stronger than in April and the highest in over eight years, owing to a rise in the monthly flow of consumer credit, noted Daiwa Capital Markets Research in a research report.

Growth in loans to NFCs remained the same at 2.4 percent year-on-year with the flow of net new lending staying close to the top of the post-crisis range.

Meanwhile, the French consumer confidence survey exceeded expectations, with the headline print rising by 5 points to 108, in line with the broad-based improvement in economic sentiment throughout the euro area. The June sentiment level matched the pre-crisis high reached in 2007. Within the details, there was a notable rebound in the index of consumer expectations of future living standards that rose to the highest since May 2007. And the survey of measure related to fear of joblessness dropped to the lowest level since early 2008.

At 19:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was highly bearish at -112.36, while the FxWirePro's Hourly Strength Index of Euro was neutral at 19.4236. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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