Euro area Consumer Confidence declines to -4.8 in October vs. -5 expected

Consumer Confidence Indicator for euro area edged lower in October.
EUR/USD continues to fluctuate around 1.1650 on Thursday.

Eren Sengezer FXStreet

Consumer confidence in the euro area weakened in October with the European Commission's Consumer Confidence Indicator falling to -4.8 (flash) from -4 in September. This reading came in slightly better than the market expectation of -5. Moreover, the Consumer Confidence Indicator in the EU declined to -6.1 (flash) from -5.2.

Market reaction

This report doesn't seem to be having a noticeable impact on the common currency's performance against its major rivals. As of writing, the EUR/USD pair was posting small daily losses at 1.1642.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.