- Consumer sentiment improves in the euro area in September.
- The shared currency fails to take advantage of the data.
According to the European Commission’s latest business and consumer survey, Flash Consumer Confidence Indicator rose to -6.5 in September from -7.1 and came in better than the market expectation of -7.
“In September 2019, the DG ECFIN flash estimate of the consumer confidence indicator increased in both the euro area and the EU (by 0.6 points in both areas),” the press release read.
“At −6.5 points (euro area) and −6.4 points (EU), both indicators remain on a broadly horizontal trajectory well above their respective long-term averages of −10.7 (euro area) and −10.0 (EU).”
The EUR/USD pair failed to capitalize on the upbeat consumer sentiment data and was last down 0.18% on the day at 1.1020.
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