The Sentix investor confidence was week already last year, turning positive and negative form month to month. But, it turned massively negative in March, falling to -17.1 points, as Europe went into shut-down of the economy. In April the confidence fell further to -42.9 points, while improving slightly to -41.8 points in May.

This month, Europe is getting out of the lock-down and the sentiment improved further to -24.8 points, but that’s still pretty bad. Below is the Eurozone Sentix investor confidence, as well as the German industrial production.

Eurozone Investor Confidence for April

• June Sentix investor confidence -24.8 vs -22.0 expected
• April investor confidence stood at -41.8 points

German Industrial Production for May

• April industrial production -17.9% vs -16.5% expected
• March industrial production was -9.2%, revised to -8.9%

April was expected to be bad and markets were expecting for another bad reading this month. These figures show a deeper than expected contraction and EURUSD ticks down a few points on the release. Not a massive surprise to see poor data here, but German industrial production woes have been a constant source of strain for the last 18 months or so. First US-China trade war induced slowdowns, now COVID-19.