Despite the recent softness in data —
the Citi economic surprise index for the eurozone is now at its lowest since June 2012 — markets remain stubbornly bullish on the euro with overall bets still near record highs as longer - term expectations remain optimistic.
Not exact matches
Earnings / Macro Pulse: But if you look at a couple of key indicators we track: the «nominal
surprise index» (this tracks a combination of the
Citi US inflation
surprise index and the
economic surprise index - giving a view on how the inflation and general
economic data is turning out vs expectations), and the «earnings revisions indicator» (this combines earnings revisions ratio and the rate of change in forward earnings).
The
Citi Major Economies (G - 10)
Economic Surprise Index has given up more than half the fall's gains and is on the cusp of turning negative, i.e. more negative than positive
surprises, for the first time since early last fall (see the accompanying chart).