consumer Sentiment in the Eurozone Marginally Improves as Expected

Consumer confidence in the Eurozone increased by 0.3 points from the previous month to -14.0 in June 2024,
reaching its highest level since February 2022 and aligning with initial estimates.

Content:

Euro
Brent
Dollar

Euro

Across the European Union as a whole, consumer sentiment rose by 0.3 points to -12.9,
reflecting improved consumer views on their past financial situation and their intentions to make major purchases.

However, consumer expectations regarding the general economic situation in their countries
and their own financial situations remained broadly unchanged.

Brent

Brent crude oil prices reached $86.
It crude futures rose to $86 per barrel on Thursday, nearing a two-month high,
as supply concerns due to escalating conflict in the Middle East outweighed a surprise increase in U.S. inventories.
Tensions between Israel and Lebanon’s Hezbollah escalated,
raising fears of a broader conflict involving major oil producer Iran.

Turkish President Erdoğan expressed solidarity with Lebanon and called for regional support.
Israeli forces intensified their attacks in Gaza, with reports of heavy fighting in Rafah.

Meanwhile, the U.S. Energy Information Administration reported an increase of 3.6 million barrels in crude oil inventories and a 2.7 million barrel increase in gasoline inventories, contrary to expectations of a drawdown.

Dollar

The dollar hovers near a two-month high.
and The dollar index stabilized around 106 on Thursday after reaching a two-month high in the previous session, supported by hawkish remarks from a Federal Reserve official and the central bank’s cautious approach to interest rate cuts.

The dollar also followed a rise in Treasury yields, with the benchmark 10-year U.S. yield hitting a two-week high above 4.3%. Investors are now looking forward to weekly jobless claims,
durable goods orders, and pending home sales data on Thursday,
as well as the Personal Consumption Expenditures (PCE) inflation report on Friday,
to better guide expectations.
The dollar remained near multi-decade highs against the yen and near multi-month highs against other major currencies.

consumer Sentiment in the Eurozone Marginally Improves as Expected

consumer Sentiment in the Eurozone Marginally Improves as Expected

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