Eurozone: Consumer Confidence in April drops to -22.7 vs. -19.6 expected
|The Consumer Confidence Index for the eurozone in April slumped to -22.7 in its flash estimate from -11.6 in March, the data published by the European Commission showed on Wednesday. This reading came in worse than the market expectation of -19.6.
"At −22.7 points (euro area) and −22.0 points (EU), both indicators fell to well below their long-term averages of −11.1 (euro area) and −10.4 (EU), and close to the record lows recorded during the Great Recession in 2009," the press release read.
Market reaction
The Euro Stoxx 50 Index retreated from session highs after this data but was still up around 1% on the day at 2,818.50 points. Meanwhile, the EUR/USD pair was virtually unchanged on a daily basis at 1.0856.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.