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Forex Flash: EZ confidence continues to rebound – BTMU

By FXstreet.com,  January 08, 2013, 05:50:00 AM EDT

FXstreet.com (Barcelona) - Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the release of the Sentix Investor Confidence survey yesterday for January revealed that investor confidence in the euro-zone continued to rebound in early 2013 reaching its highest level since July 2011.

he writes, "It reinforces building expectations that the pace of economic contraction in the euro-zone continues to ease. The key development in the euro zone yesterday was the latest political development in Italy where Berlusconi's centre-right People of Liberty party (PdL)secured an agreement with the Northern League its former long-term ally. The latest opinion polls suggest both parties are likely to win around 25.0% of the vote compared with around 40.0% for a likely alliance between the PD and SEL. parties. The centre-left should be able to win an absolute majority in the Lower House although the Senate outcome is more uncertain. The prospect of a more fragmented parliament lifted Italian bond yields modestly yesterday."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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