At 17:00 (GMT+2), January data on the consumer confidence index in the euro area will be published. The indicator is calculated based on a survey of 2.3K households that assess the prospects for the economy. This is a leading indicator for consumer spending and high readings indicate consumer optimism and vice versa. If in January the indicator continues its negative dynamics from the current –22.2 points, this is likely to put pressure on the positions of the euro.
