The Eurozone has published this Monday its confidence and economic sentiment data published by the European Commission, revealing a general improvement in January.
The Economic Sentiment Indicator (ESI) has risen 2.8 points to 99.9 vs. 97.1 in December (figure revised up from 95.8). The result improves the 97 points estimated by the consensus and reaches its best reading in seven months, specifically since June 2022.
The Consumer confidence has improved 1.3 points in January, moderating to -20.9 from the previous 22.2, its best figure in eleven months, since February 2022.
The business climate has risen to 0.69 from 0.57 (which in turn has been revised upwards from 0.54), being the maximum of the last three months.
Finally, industrial confidence has jumped to +1.3 from -0.6, marking a six-month high, while services confidence has shot up to 10.7 from 7.7, rising above the 7.9 estimate and reaching its highest level in seven months.
EUR/USD reaction
EUR/USD has reacted to the good sentiment and confidence data with a rise of almost 15 pips to a two-day high of 1.0913. At time of writing, the pair remains above the 1.0900 zone, trading at 1.0907, gaining 0.39% daily.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
