- Eurozone investors’ morale deteriorates sharply in July.
- EUR/USD keeps range below 1.0850 despite the downbeat Eurozone data.
The Eurozone Sentix Investor Confidence Index dropped sharply from 0.3 in June to -7.3 in July, according to the latest survey published on Monday.
The Expectations Index in the Eurozone fell from June’s 10.0 to 1.5 in July.
The index on the Current Situation also decreased to -32.3 in July from -26.3 in June.
Key takeaways
The results are a "bitter setback".
“The recent recovery of the European economy has come to an abrupt end.”
“The survey said that investors were concerned about French elections, upcoming German state elections and uncertainty over the US presidential election later this year.”
Market reaction to the Eurozone Sentix data
EUR/USD is holding the renewed upside near 1.0830 despite the discouraging Eurozone data. As of writing, EUR/USD is up 0.05% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD stays below 1.0850 after recovery attempt
![EUR/USD stays below 1.0850 after recovery attempt](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/EURUSD/MoneyEURUSD_2_XtraSmall.jpg)
Following a bearish opening to the week, EUR/USD recovered toward 1.0850 but lost its momentum. Euro struggles to gather strength following the disappointing investor sentiment data and France's election gridlock, limiting the pair's upside.
GBP/USD steadies above 1.2800 as US Dollar struggles
![GBP/USD steadies above 1.2800 as US Dollar struggles](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/GBPUSD/iStock-689067954_XtraSmall.jpg)
GBP/USD keeps its range above 1.2800 in European trading on Monday. The US Dollar recovery stalls and offers some comfort to the pair. Traders, however, remain wary after the UK elections and ahead of Powell's testimony and US CPI data due later this week.
Gold trades in negative territory below $2,380
![Gold trades in negative territory below $2,380](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/stacked-gold-bars-13094022_XtraSmall.jpg)
After posting impressive gains on Friday, Gold stays on the back foot and trades in negative territory below $2,380 on Monday. Reports of China's Central Bank pausing Gold purchases for the second straight month in June weighs on XAU/USD.
Chainlink update: Key on-chain indicators predict nearly 10% recovery in LINK
![Chainlink update: Key on-chain indicators predict nearly 10% recovery in LINK](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Coins/Chainlink/Chainlink_Crypto_31_01_XtraSmall.jpg)
Chainlink on-chain metrics signal a recovery from the recent correction in LINK price. Supply on exchanges dropped nearly 3% in two weeks, likely reducing the selling pressure on Chainlink.
The week ahead: Earnings season and US CPI in focus
![The week ahead: Earnings season and US CPI in focus](https://editorial.fxstreet.com/images/Macroeconomics/EconomicIndicator/Prices/CPI/consumer-price-index-gm500080630-80587217_XtraSmall.jpg)
Financial markets will be digesting political news at the start of this week. Key economic highlights this week include the US CPI for June, which is expected to decline to 3.1% on an annual basis, down from 3.3% in May.