Economic sentiment in the eurozone fell to the lowest levels since September 2015.
Data from the European Commission released on Friday showed that the economic sentiment index fell to 101.7 from 103.1 in August. This was lower than the estimates of a decline to 103.0.
The commission said that the declines were because of deteriorating confidence in the industry.
EUR/USD to Bounce Off the Support Area
The currency pair closed on Friday with some modest gains. Price action looks to have stalled near the support area of 1.0944 – 1.0925. However, price needs to follow through with some gains to the upside to confirm the reversal. If the bullish momentum picks up, the currency pair could attempt rising to 1.1091.
