Eurozone Sentix Investor Confidence crumbles to -7 in March vs. 5.3 expected
Eurozone’s investor sentiment got crushed in the third month of 2022; the latest data published by the Sentix research group showed on Monday.
The gauge tumbled sharply to -7 in March from 16.6 in February vs. a drop to 5.3 expected. The index hit its lowest level since November 2020.
A current conditions index fell to 7.8 in March from 19.3 in February.
An expectations index crashed to -20.8 in March from 14.0 in February, the lowest reading in nearly a decade and the biggest drop in the Sentix index's 20-year history.
Sentix Managing Director Patrick Hussy said: "the eurozone economy was being dramatically hit by the Ukraine crisis,” adding that “the eastern European region was particularly suffering.”
"The U.S. economy is also being hit by the crisis shock, although not quite as hard,” he noted.
EUR/USD reaction
The shared currency remains in the hands of bears on dismal Eurozone Sentix data. EUR/USD is losing 0.56% on the day, currently trading at 1.0863.
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 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 as negative or bearish for the unique currency.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
