The rise in the euro area confidence indicators likely reflects increasingly loose lockdown measures

The sharp rise in the euro area PMIs as well as the consumer confidence indicators is at odds with the current narrative concerning the euro area. It may actually reflect the fact that lockdown measures are increasingly bypassed and, without any surprise, less and less efficient to stop the pandemic. Hopes are now fully placed in the strong rise in vaccine doses available from April. Financial markets are hesitant: bond yields have stabilized after a strong downward correction and the USD has followed the opposite path. The EUR/USD exchange rate is nearing 1.18.

Share this news :

You might also read :

April 23, 2021

Light vs heavy

ICE Brent prompt contract hiked to 65.7 $/b, likely due to the sustained backwardation at the prompt. Physical differentials in West Africa continued to weaken,…
November 23, 2021

SPR day ?

Details of a potential US SPR release are emerging, with the announcement expected today. First, it is likely that the announcement will concern multiple countries.…
January 28, 2022

The backwardation continued to narrow

European gas prices were almost stable on the spot and the two front months yesterday as ongoing strong LNG sendouts and profit taking continued to…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet?