Eurozone Consumer Confidence Improves but Was Somewhat Lackluster for the EUR

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.

Next Up

FED Chair Powell Testimony that will move the EUR/USD dial…