Euro area Economic Sentiment Indicator improves to 103.5 in February vs. 102.8 expected
Fundamental Forex Analysis

Euro area Economic Sentiment Indicator improves to 103.5 in February vs. 102.8 expected

  • Sentiment and confidence indicators for the euro area improved in February.
  • EUR/USD pair continues to trade in the positive territory a little below 1.0950. 

The Economic Sentiment Indicator for the euro area improved to 103.5 in February’s final reading from 102.6 (revised from 102.8) in the previous estimate and came in better than the market expectation of 102.8.

Further details of the report revealed that the Business Confidence Index in the same period rose to -0.04, the Industrial Confidence Index edged higher to -6.1, both readings beating analysts’ estimates, and the Services Sentiment Index came in at 11.2 as expected.

Finally, the Consumer Confidence Index arrived at -6.6 to match experts’ forecasts.

EUR/USD reaction

The shared currency preserves its strength after the data. The EUR/USD pair was last seen trading at 1.0940, adding 0.55% on a daily basis.

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