A recent survey by the GfK Group, one of the world’s leading market research organizations, revealed a burst of optimism in Germany regarding its present financial situation. The monthly survey is a leading indicator of consumer confidence and often carries a moderate impact on market forecasts.
Today’s reading, which not only beat expectations but actually grew beyond last month’s survey results, suggests that consumer fears of economic stagnation are beginning to abate. The mild uptick in consumer risk appetite was enough to give the EUR a small boost in earlier trading, but the currency has so far failed to maintain its recent support.
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