At 12:00 (GMT+2) February 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. It is a leading indicator for consumer spending and high readings indicate consumer optimism and vice versa. In February the indicator accelerates the negative dynamics from the current –19.0 points to –20.9 points. Implementation of the forecast is likely to put pressure on the positions of the European currency.
