French Consumer Confidence Indicator Rose Unexpecdly In March

By Benjamin Spier,

THE TAKEAWAY: French consumer confidence indicator (MAR) comes in five points higher than expected -> Indicator seen as sign of a recovering economy -> EUR/USD takes back part of earlier day losses

The French consumer confidence indicator rose to an eight-month high on Tuesday. The measure of sentiment came in at 87 for the month of March, five points better than expected and five points above the previous.

Higher levels of consumer confidence could stimulate to a recovering economy by propping spending. Today’s release was derived from 2000 telephone surveys of French households. Following the release of the numbers, EUR/USD climbed 10 points, but remained down twenty points from an earlier day high.
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Original Article: http://www.dailyfx.com/forex/market_alert/2012/03/27/French_Consumer_Confidence_Indicator_Rose_Unexpecdly_in_March.html

DailyFX is the forex news and research arm of FXCM (NYSE: FXCM), which provides currency trading and brokerage services and is an advertiser on TheStreet websites. Any opinions, news, research, analyses, prices, or other information is provided as general market commentary, and does not constitute investment advice. Dailyfx will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Currency trading involves significant risk of loss. Individual authors may hold positions in the currencies discussed in the article.

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