Eurozone Sentix Investor Confidence worsens to 16.9 in Oct, a big miss
Eurozone’s investor sentiment worsened more than expected in October, the latest data published by the Sentix research group showed on Monday.
The gauge fell further to 16.9 in October from 19.6 in September vs. a reading of 19.0 expected. The index tumbled to six-month lows and marks the third straight monthly decline.
A current conditions index fell to 26.3 from 30.8.
An expectations index fell to 8.0 from 9.0, dropping for the fifth month in a row to hit its lowest level since May 2020.
Sentix Managing Director Patrick Hussy said: "The economic recovery process continues to falter. The continuing loss of momentum thus does not signal any autumn revival."
EUR/USD reaction
The shared currency shrugs off disappointing Eurozone Sentix data, as EUR/USD keeps its range around 1.1615 amid the US dollar retreat and cautious markets.
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 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.
