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  • Consumer Confidence in the euro area improves in February.
  • EUR/USD trades with modest daily gains above 1.0800.

The Consumer Confidence Index for the euro area improved to -6.6 in February (preliminary) from -8.1 in the previous reading, the European Commission’s latest Business and Consumer Surveys showed on Thursday. For the EU27, the index rose by 1.2 points to -5.9.

“In January 2020, the Economic Sentiment Indicator (ESI) increased markedly in the euro area (by 1.5 points to 102.8) and the EU (by 1.9 points to 101.3),” the publication further read.

EUR/USD continues to edge higher

The EUR/USD pair extended its recovery on the upbeat data and was last seen trading at 1.0817, adding 0.12% on a daily basis.