EUR/USD keeps highs as Eurozone Dec Sentix Investor Confidence beats estimates with +0.7
|Investor confidence in the Eurozone improved sharply in December, despite looming US-China trade tensions and German recession, the latest data published by the Sentix research group showed on Monday.
The gauge jumped to +0.7 in December from -4.5 in November and against a reading of -4.9 expected. The investors’ morale hit the highest since March 2018.
Sentix Managing Director Patrick Hussy said: " More and more investors are convinced that the worst is over for the economy in the euro zone and that impulses from the central bank and politicians will stimulate the economy in the coming months.”
"Investor optimism was best reflected in labor markets, which had remained "extremely robust" despite economic weakness in Europe and the United States over the past two years. That would soon feed through into wage inflation," Hussy added.
About Eurozone Sentix Investor Confidence
With among 1600 financial analysts and institutional investors, the Sentix Investor Confidence is a monthly survey which shows the market opinion about the current economic situation and the expectations for the next semester. The index, released by the Sentix GmbH, is composed by 36 different indicators. Usually, a higher reading is seen as positive for the Eurozone, that means positive, or bullish, for the Euro, While a lower number is seen negative or bearish for the unique currency.
FX Implications
The shared currency held onto the recovery gains on the Eurozone Sentix data, as EUR/USD flirted with daily tops of 1.1070.
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