Eurozone Sentix Investor Confidence Index falls sharply to -7.3 in July vs. 0.3 previous
- Eurozone investors’ morale deteriorates sharply in July.
- EUR/USD keeps range below 1.0850 despite the downbeat Eurozone data.
The Eurozone Sentix Investor Confidence Index dropped sharply from 0.3 in June to -7.3 in July, according to the latest survey published on Monday.
The Expectations Index in the Eurozone fell from June’s 10.0 to 1.5 in July.
The index on the Current Situation also decreased to -32.3 in July from -26.3 in June.
Key takeaways
The results are a "bitter setback".
“The recent recovery of the European economy has come to an abrupt end.”
“The survey said that investors were concerned about French elections, upcoming German state elections and uncertainty over the US presidential election later this year.”
Market reaction to the Eurozone Sentix data
EUR/USD is holding the renewed upside near 1.0830 despite the discouraging Eurozone data. As of writing, EUR/USD is up 0.05% on the day.
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.
