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Euro Little Changed as Eurozone Economic Sentiment Show Increase

Euro Little Changed as Eurozone Economic Sentiment Show Increase

Oded Shimoni, Junior Currency Analyst

Talking Points:

  • The Euro little changed versus the US Dollar
  • Eurozone economic sentiment 105.6 versus 104.1 expected
  • Selling prices expectations -3.3 versus -2.4 prior

The Euro was little changed versus the US Dollar after today's selling prices expectations held an overall good sentiment report.The index of executive and consumer confidence rose to 105.6 in September from a revised 104.1 in August. The report showed sentiment in the services sector rose to 12.4 from 10.1. Industrial confidence increased to minus 2.2 from minus 3.7 in August. Whilst Consumer inflation expectations rose to 3.2 from prior 3.1, selling prices expectations fell to minus 3.3 from prior minus 2.4.

The report signaled that sentiment in the Eurozone was not swayed by worries about China and global growth, yet lower selling prices expectations suggest weaker inflation. ECB’s President Mario Draghi said the central bank is ready to expand its quantitative-easing program on a weaker inflation outlook.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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