Upbeat Eurozone Unemployment and Investor Confidence Data Fails to Deliver EUR Support

It was a relatively quiet start to the day on the Eurozone economic calendar. Key stats this morning included Eurozone investor confidence and Eurozone unemployment figures.

Sentix Investor Confidence

In January, the Eurozone’s Sentix Investor Confidence Index increased from 13.5 to 14.9. Economists had forecast a fall to 12.0.

According to the January survey,

• The current assessment improved by 3.0 points, while the expectations component stagnated.
• For Germany, the overall index increased by 2.6%, supported by a 6.2% jump in the current situation component. The expectations component held steady at +15.0 points.

Unemployment

In November, the Eurozone’s unemployment rate slipped from 7.3% to 7.2%, which was in line with forecasts.

According to Eurostat,

• The youth unemployment rate was 15.5%, down from 15.8% in October.
• Compared with November 2020, the number of unemployed youths decreased by 188,000.
• For the Eurozone, the unemployment rate had stood at 8.1% in November 2020.

Market Impact

Ahead of today’s stats, the EUR had risen to a pre-stat and current day high $1.13611 before sliding to a pre-stat and current day low $1.13208.

In response today’s stats, the EUR rose to a post-stat high $1.13364 before falling to a post-stat low $1.13225.

At the time of writing, the EUR was down by 0.26% to $1.13311.

Next Up

U.S wholesale inventories that should have a muted impact on the EUR late in the session.