How are we left after the latest data?
EURUSD didn’t do anything over the data but let’s look at what it all means
– Sentiment up – tick
– Unemployment down – tick
Sentiment continues to improve across the sectors and Europe’s consumers are becoming a less miserable bunch. That’s not translating into spending with the drop in Nov retail sales. I mentioned in the retails post that sales might improve in Dec, given the PMI’s. The holidays are likely to add to that but there’s a counter to that argument too.