German GfK Consumer Confidence Highest in 7 years
Euro Response Muted After Data Crossed the Wires
Focus RemainsFebruary's Euro-zone's CPI Report
German Consumer Confidence rose to its highest level since January 2007, speaking to consumers' upbeat mood about their future income. The forward-looking consumer gauge rose to 8.5, and beating expectations calling for a print of 8.2. The Euro was little-changed on the positive outcome as traders remain focused on the implications of lingering disinflation on ECB monetary policy. Within that context, the spotlight is on Thursday's Eurozone February CPI for further directional cues ahead of the March ECB meeting.
EUR/USD 5-Minute Chart. February 26, 2014