Euro area Economic Sentiment Indicator improves to 93.7 in November vs. 93.5 expected

Economic sentiment in the euro area improved modestly in November.
EUR/USD continues to trade in positive territory, stays below 1.0400.

Eren Sengezer FXStreet

The data published by the European Commission showed on Tuesday that the Economic Sentiment Indicator (ESI) for the Euro area improved to 93.7 in November from 92.7 in October. This reading came in slightly better than the market expectation of 93.5. For the EU, the ESI rose by 1 point to 92.2.

Further details of the publication revealed that the Industrial Confidence for the euro area declined to -2 from -1.2 and the Services Confidence edged higher to 2.3 from 2.1.

Market reaction

The EUR/USD pair showed no immediate reaction to these figures and it was last seen rising 0.32% on the day at 1.0370.

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.

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