Eurozone Consumer Confidence falls Below expectations

According to the flash estimate of the European Commission’s Eurozone Consumer Confidence survey, the headline index fell to -8.8 in February versus forecasts for a slight rise to -8.0 from -8.5 the month prior of January.

The euro did not see any reaction to the slightly weaker than expected Eurozone Consumer Confidence data, with currency markets much more focused for now on geopolitical tensions between Russia, Ukraine and NATO as fighting in Ukraine’s Eastern Donbas region enters a second day.

The Consumer Confidence released by the European Commission is a leading index that measures the level of consumer confidence in economic activity.

A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. A high reading is seen as positive for the EUR, while a low reading is seen as negative.