Euro Up As Eurozone Sentix Investor Confidence Index Climbs To 5-month High

Date : 04/08/2019 @ 2:28PM
Source : RTTF2
Stock : Euro vs New Zealand Dollar (EURNZD)
Quote : 1.7603  0.007395 (0.42%) @ 4:44AM
Euro vs NZD share price Chart

Euro Up As Eurozone Sentix Investor Confidence Index Climbs To 5-month High

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1 Year : From Oct 2018 to Oct 2019

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The euro strengthened against its major counterparts in the European session on Monday, as Eurozone investor confidence strengthened for a second straight month to its highest level in five months in April.

Survey data from the behavioral finance research group Sentix showed that the investor confidence index for the euro area climbed to -0.3 from -2.2 in March. The latest reading was the strongest since November.

Economists had forecast a score of -2.

However, the current situation index fell for an eighth successive month, to 3.8 from 6.3, which was the weakest level since February 2015.

In contrast, the expectations measure rose to -4.3 from -10.3, improving for a third straight month.

Preliminary figures from the Federal Statistical Office showed that Germany's exports and imports declined more-than-expected in February at the fastest pace in a year.

Exports fell a calendar and seasonally-adjusted 1.3 percent month-on-month, while economists had forecast a 0.4 percent drop.

The currency traded mixed against its major counterparts in the Asian session. While it held steady against the franc and the pound, it fell against the yen. Against the greenback, it rose.

The euro advanced to 1.1236 against the franc, from a low of 1.1208 seen at 5:15 pm ET. The next possible resistance for the euro is seen around the 1.14 level.

Following a decline to 1.1211 against the greenback at 5:15 pm ET, the euro reversed direction and reached as high as 1.1237. If the euro rises further, 1.14 is possibly seen as its next resistance level.

The euro edged up to 0.8613 against the pound, after falling to 0.8591 at 11:30 pm ET. The euro is poised to find resistance around the 0.88 level.

The European currency bounced off to 125.35 against the yen, from a 4-day low of 124.99 touched at 10:30 pm ET. The euro is seen finding resistance around the 127.00 level.

Data from the Ministry of Finance showed that Japan recorded current account surplus of 2,676.8 billion yen in February.

That exceeded expectations for a surplus of 2,633.5 billion yen following the 600.4 billion yen surplus in January.

The euro reversed from an early low of 1.4999 against the loonie, rising to 1.5033. Next key resistance for the euro is seen around the 1.52 level.

The euro rose to 1.6691 against the kiwi, off an early low of 1.6643. On the upside, 1.68 is likely seen as the next resistance level for the euro.

On the flip side, the euro pulled back to 1.5805 against the aussie, from a 5-day high of 1.5841 hit at 11:45 pm ET. The euro is likely to find support around the 1.56 level.

Looking ahead, Canada housing starts for March and building permits for February, as well as U.S. factory orders for the same month are set for release in the New York session.

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