Talking Points:
- Sentix Investor Confidence Index rose to +5.7 from the prior +5.5, below expectations
- Report says other economic blocks developing better than the Eurozone in April
- Sentix say investors believe US economy is back in upswing
Find Key Turning Points for the EUR/USD with DailyFX SSI
Sentix Investor confidence Index gained +0.2 in April to reach +5.7. The index rose above the March reading of +5.5, but was below economists’ expectations for a rise to +7.0. The survey showed the “Current Situation” value dropped by 2.3 points to +6.0, from the prior +8.3. On the other hand the “Expectations” value increased to +5.5 points from the prior +2.8, which led to the overall rise in the index. The Sentix Investor Confidence Index rates the six-month economic outlook for the Euro-Zone, surveyed from registered investors and analysts. A reading above zero indicates optimism, while a reading below zero indicates pessimism.
Looking into the report, Sentix said that the Eurozone is failing to benefit from a stabilization of the global economy and from the measures of the ECB. According to the report, other economic blocks developed better in April than the Eurozone, with investors believing that the US economy is back in upswing. With that being said, the Japanese headline index has fallen to the lowest level since November 2012.
DailyFX Currency Strategist Christopher Vecchio recently said that there is good reason to distrust the Euro’s advance further down the line.
--- Written by Oded Shimoni, DailyFX Research
