Eurozone Sentix Investor Confidence Index improves to -18.9 in August vs. -23.4 expected
- Eurozone investors’ morale got an unexpected boost in August.
- EUR/USD remains pressured in its daily range below 1.1000.
The Eurozone Sentix Investor Confidence improved to -18.9 in August from -22.5 in July. The market consensus was for a -23.4 reading.
Commenting on the survey’s findings, ” Germany, in particular, has become the sick man of the Eurozone and is weighing heavily on the region,” said Sentix Managing Director Patrick Hussy.
Hussy further noted that “the economy in the Eurozone remains in recession mode. There can therefore be no joy about this development.”
Market reaction
In line with Hussy’s comments, EUR/USD is uninspired by the improvement in the Eurozone investors’ confidence. As of writing, the EUR/USD pair is down 0.30% on the day at 1.0977.