Latest data released by Eurostat - 8 January 2019

  • Economic confidence 107.3 vs 108.2 expected
  • Business climate indicator 0.82 vs 1.00 expected
  • Industrial confidence 1.1 vs 3.0 expected
  • Services confidence 12.0 vs 12.3 expected

Prior month's release can be found here. And the ugly turns uglier. Misses across the board in terms of confidence levels but of note, the economic confidence reading falls to its weakest level since December 2016. Sure, the reading remains relatively elevated but with consumer confidence dipping into negative territory to end the year while confidence levels as a whole continue to grow weaker, it doesn't bode well for the Eurozone outlook to start 2019.

EUR/USD sits at 1.1448 currently, off the lows as the dollar gives up some of its earlier gains. EUR/GBP now at 0.8972 near unchanged levels as the pound moved lower following its move higher earlier in the European morning.