Release Explanation: Measures the investors’ confidence in the European economy. A rising trend has a positive affect on the currency since it shows investors are bullish and more likely to buy the currency.
Trade Desk Thoughts: The Sentix reading resumed its downward path, after improving last month for the first time in six months. The index fell 1.7 points from January, to -36.1. The Euro-zone's assessment is in-line with the other important regions.
According to the release, the current situation index for the Euro-zone reached -52.25, an all-time low, but expectations have dramatically improved in the last few months, from -42.00 in December, to -18.25 in February. The expectation index for the Euro-zone is above the current index for the first time since early 2006.
Forex Technical Reaction: The euro moved lower during the overnight session. The single currency fell 50 pips against the dollar and lost 30 pips against the pound.