The eurozone’s investor confidence, as measured by Sentix, fell slightly from 7.6 to 5.2 in February. The declines came as investors fear the ramifications of the coronavirus outbreak.
Although the reported cases in Europe have been low, investors are weighing the larger impact in terms of trade with China. In a separate report, Italy’s industrial production was down 2.7% following a 0.1% increase previously.
No Respite for the EUR/USD
The common currency continues its bearish trend with no signs of a respite. The EURUSD is posting fresh 2020 lows as it fails to beat a stronger dollar.
With the current trend, the common currency is on track to test the lower support at 1.0897. This marks a retest of the early October 2019 lows.
