The Euro fell against the Sterling on the release showing solid gains in the Euro zone’s economic confidence. After the report, EUR/USD started sharp downmove to touch the weakest level in two weeks of 0.8799.
The European Commission stated that confidence in the Euro zone’s economic outlook rose to the highest level since January 2001 this month, with the Sentiment Indicator reaching the 114 points in the observed period. Data reflected the strong EZ economic growth seen in the first half of 2017, which was likely to continue further, though the ongoing crisis in Catalonia could drag on the bloc’s expansion by the end of the year. The next moves in the exchange rate are set to be determined by the EU GDP report today.
