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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
European UnionEurozone General government budget climbed to -3.7% in April 2013
FMPMonthlyReleased April 2013
Eurozone General government budget climbed to -3.7% in April 2013, up 0.5% from March's -4.2% reading. The reading missed the -3.5% consensus by 0.2%.
Latest Release
-3.7
Actual
-3.5
Consensus
-4.2
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.50 | FOREX | Moves with | → View |
| EUR/JPY | ▲ Direct | +0.45 | FOREX | Moves with | → View |
| EUR/GBP | ▲ Direct | +0.40 | FOREX | Moves with | → View |
| DAX | ▲ Direct | +0.40 | INDEX | Moves with | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
General government budget (European Union) was reported at -3.7% in April 2013. This missed the market consensus of -3.5% by 0.2%. The reading rose from the previous value of -4.2%. This is classified as a medium-impact indicator released on a monthly basis.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with EUR/USD (Bullish EUR). A secondary relationship exists with EUR/JPY, positively correlated (Bullish EUR).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include CFTC EUR speculative net positions (Oct 9) and Industrial Production MoM (Oct 15).
Auto-generated from current model state · Refreshes on each release · Last update April 2013.
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General government budget - EU
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About General government budget — European Union
DEFINITION
balance The general government budget balance is a key financial indicator that measures the difference between a government's total revenue and its total expenditure. It provides insight into the overall financial health of a government and its ability to manage its finances effectively. A positive budget balance indicates that a government is generating more revenue than it is spending, while a negative balance suggests that it is spending more than it is earning. This indicator is closely monitored by economists, investors, and policymakers as it can impact a country's economic stability and growth.
WHY THIS INDICATOR MATTERS
Fiscal and debt-supply data influence sovereign-yield term premia and currency expectations, particularly when supply pressures interact with policy normalization. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2013): actual -3.7 %, consensus -3.5 %.
WHAT'S NEXT
This indicator correlates most strongly with EUR/USD (Bullish EUR, r=0.50) — a useful reference for forex-focused traders.
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