Consumer Confidence drops to -8.1 in December as expected
Fundamental Forex Analysis

Consumer Confidence drops to -8.1 in December as expected

  • Consumer Confidence in December fell to -8.1 in eurozone. 
  • Economic Sentiment Indicator recovered slightly in same period. 
  • EUR/USD struggles to recover its losses after mixed data. 

Consumer sentiment continued to weaken in the euro area in December with the European Commission’s Consumer Confidence Index dropping to -8.1 from -7.2 in November. This reading came in line with market expectation.

Further details of the publication revealed that the Industrial Confidence fell to -9.3 and the Business Climate slumped to -0.25 with both figures falling short of analysts’ estimates.

On a positive note, the Economic Sentiment Indicator improved to 101.5 from 101.2.

The EUR/USD pair edged lower on these data and was last down 0.15% on the day at 1.1135.

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