Latest data released by INSEE - 24 October 2018
- Prior 106; revised to 105
- Manufacturing confidence 104 vs 107 expected
- Prior 107
Another month, another decline in confidence levels in the French economy. This is mainly a reflection of waning confidence in the Eurozone region as a whole in my view. The fall in manufacturing confidence is to its lowest level since November 2016.
The release here isn't going to impact the euro all too much but it is one that will feed into the Eurozone economic outlook and it's not a good signal as we begin Q4.
EUR/USD holds in a narrow range on the day at 1.1465 currently. EUR/GBP likewise at 0.8838 while EUR/JPY is flat at 128.96 currently.
