Release Explanation: Measures the investors’ confidence in the European economy. A rising trend has a positive affect on the currency since it shows investors are bullish and more likely to buy the currency.
Trade Desk Thoughts: The Sentix reading resumed its downward path, falling to a new all-time low for the Euro-area. The index fell 6.6 points from February, to -42.7. The Euro-zone's assessment is in-line with the other important regions.
According to the release, the current situation index for the Euro-zone reached -59.75, an all-time low, while the expectation index resumed its decline after three consecutive months of improvements. The release points out that promises made by President Obama during his speeches helped the expectation index drop less than expected.
Forex Technical Reaction: The euro moved lower during the overnight session. The single currency fell 60 pips against the dollar, but rose 60 pips against the pound.