Euro area Consumer Confidence declines to -23.6 in June vs. -20.5 expected

• Consumer sentiment in the euro area continued to weaken in June.
• EUR/USD continues to trade in positive territory above 1.0550.

According to the European Commission's flash estimates for June, the Consumer Confidence Indicator decreased in both the EU (1.9 points down from May) and the euro area (2.4 points down).

"At -24.0 (EU) and -23.6 (euro area) points, consumer confidence fell further below its long-term average of -10.6 (EU) and -11.0 (euro area) and closer to the record low recorded in April 2020, at the beginning of the COVID-19 pandemic," the publication further read.

Market reaction

The EUR/USD pair showed no immediate reaction to these figures and was last seen gaining 0.35% on the day at 1.0560.