Euro area Consumer Confidence declines to -4.8 in October vs. -5 expected

Euro area Consumer Confidence declines to -4.8 in October vs. -5 expected

Euro area Consumer Confidence declines to -4.8 in October vs. -5 expected

  • Consumer Confidence Indicator for euro area edged lower in October.
  • EUR/USD continues to fluctuate around 1.1650 on Thursday.

Consumer confidence in the euro area weakened in October with the European Commission’s Consumer Confidence Indicator falling to -4.8 (flash) from -4 in September. This reading came in slightly better than the market expectation of -5. Moreover, the Consumer Confidence Indicator in the EU declined to -6.1 (flash) from -5.2.

Market reaction

This report doesn’t seem to be having a noticeable impact on the common currency’s performance against its major rivals. As of writing, the EUR/USD pair was posting small daily losses at 1.1642.