- Consumer confidence in the euro area continues to weaken in July.
- EUR/USD pair continues to trade below 1.1600 after the data.
The Consumer Confidence Indicator for the euro area fell from -14.7 to -15 in July’s advanced estimate, the monthly data published by the European Commission showed on Thursday. This reading came in worse than the market expectation of -12.
“At −15.0 points (euro area) and −15.6 points (EU), both indicators remain well below their long-term averages of −11.1 (euro area) and −10.5 (EU),” the publication further read.
Market reaction
The EUR/USD pair largely ignored this data and was last seen trading at 1.1584, up 0.14% on a daily basis.
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