Euroarea consumer confidence unchanged in September

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Tuesday, Sep 22 2015

In September 2015, the DG ECFIN flash estimate of the consumer confidence indicator decreased in the EU (by 0.8 points to -5.5), while it remained broadly stable in the euro area (-0.2 points to -7.1) compared to August. This was in line with market forecasts.

Since climbing to a seven-month high on Aug. 24, the euro has slid almost 5 percent as ECB officials including President Mario Draghi reiterated their willingness to respond to threats of missing their inflation target. Executive Board member Peter Praet said on Monday that the institution would “certainly do what’s necessary” if its inflation objective were to be at risk. The yen advanced against all of its 16 major counterparts as European shares retreated with U.S. equity-index futures and commodities.

Euro was pushed significantly lower in the course of the session on Tuesday and is currently being traded around 1.1130 level. Pair is likely to find support around 1.11 handle and resistance above 1.1180 area.

More in this category: « UK budget deficit at a three-year high USD higher against major rivals »

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