| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 08:00 | Eurozone | M3 money supply, adjusted y/y | September | 2.9% | 3% | 3.2% |
| 08:00 | Eurozone | Private Loans, Y/Y | September | 0.6% | 0.8% | 0.7% |
| 08:00 | Germany | IFO - Business Climate | October | 85.4 | 85.6 | 86.5 |
| 08:00 | Germany | IFO - Current Assessment | October | 84.4 | 84.4 | 85.7 |
| 08:00 | Germany | IFO - Expectations | October | 86.3 | 86.8 | 87.3 |
EUR traded mixed and flat against other major currencies in the European session on Friday as investors weighed a slew of the Eurozone’s data, including confidence reports from the region's three largest economies.
The Ifo Institute announced its latest survey showed that business sentiment in Germany, the Eurozone’s largest economy, improved in October. ifo Business Climate Index climbed to 86.5 this month from 85.4 in September. This marked the first rise in the measure since April, supported by improvement in both the current situation and expectations components. Economists had predicted the indicator to increase to 85.6.
Meanwhile, the National Institute of Statistics and Economic Studies (INSEE) reported that consumer confidence in France, the euro-area’s second-largest economy, worsened marginally in October after three months of improvement. The consumer confidence synthetic index slipped to 94 this month from 95 in September, remaining below its long-term average of 100. This was in line with economists’ expectations.
In its turn, the National Institute of Statistics (ISTAT) reported that consumer confidence in Italy, the Eurozone’s third-largest economy, also deteriorated slightly in October, with the corresponding indicator dropping to 97.4 from 98.3 in the previous month. The reading was below economists’ forecast of 98.5 but remained firmly above its average for the year. At the same time, the gauge of business confidence in Italy dropped to 93.4 from 95.6 in September, reflecting declines in confidence in the manufacturing sector and market services. This represented the lowest figure since April 2021.
Apart from confidence reports, investors also received the findings from the European Central Bank’s consumer expectations survey, which, in particular, revealed that median expectations for inflation over the next 12 months decreased from 2.7% in August to 2.4% in September, the lowest level since September 2021 and those for three years ahead declined by 0.2 percentage points to 2.1%, the lowest level since February 2022.