Unlike seen in yesterday’s very weak German business confidence figures the German consumer seems to be a lot less worried about the situation in Greece and the potential fallout of a Greek Euro exit.
On a somewhat negative note, according to the latest opinion polls the main Greek anti bailout party, Syriza is continuing to lead polls ahead of next month’s elections, even slightly extending their share of the votes.
However with still more than three weeks to go until the elections, Syriza’s lead isn’t necessarily big enough yet to guarantee them victory at this stage.
With the amount of economic data for the remainder of the day rather on the light side and ahead of Monday’s bank holiday in the US, trading volume is expected to be lower than usual today.
Markus Huber - Head of German HNW Trading - ETX Capital