Investor confidence in the Eurozone deteriorated more-than-expected in May, as the easing of the coronavirus led lockdown measures across Europe failed to lift the sentiment, the latest data published by the Sentix research group showed on Monday.
The gauge slumped to 41.8 in May from -42.9 in April and against a reading of -33.5 expected.
About Eurozone Sentix Investor Confidence
Among 1600 financial analysts and institutional investors, the Sentix Investor Confidence is a monthly survey that shows the market opinion about the current economic situation and the expectations for the next semester. The index, released by the Sentix GmbH, is composed by 36 different indicators. Usually, a higher reading is seen as positive for the Eurozone, which means positive, or bullish, for the Euro, While a lower number is seen negative or bearish for the unique currency.
FX implications
The shared currency ignored the downbeat Eurozone Sentix data, as EUR/USD extended recovery from 1.0924 lows.
At the time of writing, the spot loses 0.41% to trade at 1.0940.
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