Euro area Consumer Confidence improves to -24.9 in August vs. -28 expected

• Consumer confidence in the euro area improved modestly in early August.
• EUR/USD trades in positive territory near parity after the data.

The European Commission announced on Tuesday that the Consumer Confidence Indicator for the euro area rose to -24.9 (flash) in August from July's record low of -27. This reading came in better than the market expectation of -28.

For the EU, the Consumer Confidence Indicator rose to -26 from -27 in the same period.

Market reaction

The EUR/USD pair clings to daily recovery gains near parity after this data.