Economic sentiment in the euro area improved slightly in November with the European Commission’s Economic Sentiment Indicator rising to 101.3 in November from 100.8 from October and beating the market expectation of 101.
The EUR/USD pair largely ignored this data and was last seen trading at 1.1013, adding 0.14% on the day.
Further details of the publication revealed that the Consumer Confidence rose to -7.2 from -7.6 and the Business Climate Index dropped to -0.23 from -0.2.
“Broadly unchanged Industry Confidence (+0.3) resulted from managers’ more optimistic production expectations and assessments of the stocks of finished products, while their assessment of the current level of overall order books deteriorated slightly,” the EC noted in its publication.
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