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,” TheLFB-Forex.com Trade Team members said.
TheLFB-Forex.com Trade Team Thoughts: The Sentix report improved slightly in May, but the released number is considerably below the market’s expectations. The index rose only 1.0 point from April, to -34.3. “The Euro-zone's assessment is in-line with the other important regions. TheLFB Trade Team noted that every sub-index of the report for the current and future situation improved in May from the previous month,” TheLFB-Forex.com Trade Team said.
Forex Technical Reaction: The euro dropped 35 pips ahead of the release, to the neutral pivot point (1.3270). Currently, the euro is trading near the Sunday opening price.