Eurozone July Sentix Investor Confidence misses estimates with -18.2, EUR/USD stays below 1.13
|Investor confidence in the Eurozone improved less-than-expected in July, although thew worst not be over yet amid deteriorating expectations, the latest data published by the Sentix research group showed on Monday.
The gauge rises to -18.2 in July from -24.8 in June vs. a reading of -10.9 expected.
The current situation index rose for the second month in a row, to -49.5 from -61.5 in June. The expectations index for the bloc dipped to 19.5 from 21.8.
Sentix Chief Manfred Huebner said: “There is a danger that the 'upswing' could run out of steam as early as the summer.”
About Eurozone Sentix Investor Confidence
Among 1600 financial analysts and institutional investors, the Sentix Investor Confidence is a monthly survey that 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, which 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 is little changed on the downbeat Eurozone Sentix data, as EUR/USD clings to gains just below the 1.1300 level.
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