Consumer confidence figures for the Eurozone were in focus late in the European session. Today’s numbers followed optimistic chatter from ECB President Lagarde on Monday. Lagarde had talked of a speedier economic recovery, to be fueled by consumer spending.
According to flash figures for June, the consumer confidence indicator rose from -5.1 to -3.3. Economists had forecast an increase to -3.0.
According to the EU Commission,
- At -3.3 points, the euro area indicator was well above its pre-pandemic level.
Market Impact
Earlier, the EUR had fallen from a pre-stat and current day high $1.19204 to a pre-stat and current day low $1.18811 before finding support.
In response to the pickup in confidence, the EUR slipped to a post-stat low $1.18980 before rising to a post-stat high $1.19092.
At the time of writing, the EUR was down by 0.08% to $1.19081.
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