Economic Confidence Holds Up Slightly in the Eurozone, But Will Deteriorate Further in April - Forex News by FX Leaders
Confidence should get worse next month

Economic Confidence Holds Up Slightly in the Eurozone, But Will Deteriorate Further in April

Posted Monday, March 30, 2020 by
Skerdian Meta • 1 min read

The consumer confidence in the Eurozone turned quite negative in summer last year, as the trade war peaked and the global economy was weakening. That was the low, but it has been improving since then. It bottomed at around -44 points for the Eurozone and Germany, but improved to -8 points in January.

But now, the consumer sentiment is deteriorating again, although not as much this month, but I’m sure it will deteriorate further in April. Below is the confidence report for the Eurozone economy:

  • Final consumer confidence -11.6 vs -11.6 prelim
  • Economic confidence 94.5 vs 91.6 expected
  • Industrial confidence -10.8 vs -12.6 expected
  • Services confidence -2.2 vs -5.0 expected
  • Spanish CPI YoY March 0.1%
  • February stood at 0.7%

Despite coming above expectations, economic confidence still slumped to its weakest level since August 2013 as euro area sentiment deteriorates sharply amid the virus outbreak. EUR/USD has retreated somewhat today, but that’s mainly due to the USD taking a breather after the decline last week.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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