Eurozone Consumer Confidence Index improves to -22.2 in December vs. -22 expected

• Consumer Confidence Index in the Eurozone rose modestly in December.
• EUR/USD continues to trade in positive territory near 1.0650.

Consumer sentiment in the Euro area improved modestly in December with the Consumer Confidence Index rising to -22.2 from -23.9 in the flash estimate. This reading came in slightly weaker than the market expectation of -22.

In the EU, the Consumer Confidence Index rose by 1.4 points to -24.4.

"Consumer confidence remains well below its long-term average but is now slightly above the trough reached at the onset of the COVID-19 pandemic," the European Commission noted in its publication.

Market reaction

EUR/USD pair edged higher after this report and was last seen rising 0.4% on the day at 1.0648.