Eurozone June Sentix Investor Confidence misses estimates with -24.8, EUR/USD keeps 1.13

Investor confidence in the Eurozone improved less-than-expected in June, as re-opening up of the economies across Europe failed to boost the sentiment, the latest data published by the Sentix research group showed on Monday.

The gauge improved to -24.8 in June from -41.8 in May and against a reading of -22.5 expected. The gauge improved to -24.8 in June from -41.8 in May and against a reading of -22.5 expected. This shows that the “economy is waking up from its deep sleep.”

Sentix Chief Manfred Huebner said: “An economic upswing has begun in the eurozone. Starting out from an unchanged weak situation (-61.5 points), expectations improve significantly to +21.8 points!”

“Germany has also bottomed out. Expectations are rising strongly to +27.3 points, the highest value since March 2015. Internationally, we are getting the same picture almost everywhere. Starting from a weak situation, the expectations are rising significantly. But how long will the path out of the recession be. We have shed more light on this in a special question!" Huebner added.

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 downbeat Eurozone Sentix data, as EUR/USD clings to the 1.1300 level.