Consumer Confidence Indicator drops to -17.6 in November as expected

  • Consumer confidence in the euro area continued to deteriorate in November.
  • EUR/USD clings to modest daily gains above 1.1900 after the data.

The Consumer Confidence Indicator for the euro area weakened to -17.6 in November from -15.5, the data published by the European Commission showed on Friday. This reading matched analysts’ estimates.

Further details of the publication revealed that Services Sentiment slumped to -17.3 from -12.1, the Industrial Confidence edged lower to -10.1 from -9.2 and the Economic Sentiment Indicator dropped to 87.6 from 91.1.

Market reaction

The EUR/USD pair showed no immediate reaction to these figures and was last seen gaining 0.08% on a daily basis at 1.1925.

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