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Since European Central Bank (ECB) disappointed in December, sentiment started deteriorating in Euro zone. New Year turmoil across global stock market increased the tempo of deterioration.
- European Central Bank (ECB) again gave assurance to act in March further and keep policy very accommodative for very long and that might boost sentiment from March.
- Concern over immediate hard landing in China and weakness in emerging markets likely to weigh on sentiment, however comments from this weekend's G20 finance ministers' meeting might improve business sentiment.
- Business prospect is however great with weaker Euro improving competitiveness of Euro area however domestic economies are facing some loss of momentum.
Today's economic survey showed that sentiment across Euro zone dropped sharply.
- Euro zone business climate dropped to 0.07 in February, lowest reading since February, 2015.
- Industrial confidence dropped to -4.4 lowest since February, 2015. Economic sentiment soured to 103.8, worst reading since May, 2015.
- Services sentiment dropped drastically to 10.6, lowest reading since August, 2015.
- Consumer confidence dropped to -8.8, worst reading since December, 2014.
Euro is currently trading at 1.102 against Dollar.
