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CFDs and forex (FX) are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. 
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CFDs and forex (FX) are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX, or any of our other products work and whether you can afford to take the high risk of losing your money.
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European Central Bank

Macro Brief: A good Eurozone print to start the week

Macro 3 minutes to read
Picture of Christopher Dembik
Christopher Dembik

Head of Macroeconomic Research

Summary:  As Trump and China rattle sabres over trade, a new investor sentiment survey points to better times in Europe.

The EZ Sentix investor sentiment index is not the most commented of indicators. However, considering the lack of data today, it is worth a look. The latest print for May is out and it is rather positive, at 5.3 vs prior minus 0.3. Looking at expectations, the data is also positive at minus 0.3 vs prior minus 4.3.

The spread between current situation and expectations is also narrowing compared to the peak reached in mid-2018, currently at minus 11.25. We also have a strong improvement in sentiment in Germany as the index is out at 7.9 vs prior 2.1.

All of that tends to confirm that the low point of growth for the Eurozone this year is certainly behind us. Germany, which was facing headwinds both from Turkey and China, is slowing recovering but obviously remains subject to new negative trends in global trade resulting from trade wars. But despite the recent tweets of President Trump threatening China, we remain confident that a trade agreement will be reached between the two countries in coming months. This, along with China’s economic stimulus programme, will help to revive growth.
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