EU consumer confidence for July 2020
The EU consumer confidence data for July 2020 came in at -15.0 vs. -12.0 estimate. In June, the index came in at -14.7.
The index low from April reach -22.0. That was right near the December 2012 low of -22.2. The all-time low came in 2009 at -23.9.
As a guide, the low for 2019 was -8.1. The low going back to 2016 was -9.5. At -15, the index is still well below those low levels from that time (not all that surprised either).
The EURUSD has bounce back after an earlier NY session decline to new session lows. The 1.1596 to 1.1600 remains key resistance. The 50% retracement of the move down from the 2018 high comes in at 1.1596. The high from yesterday extended to 1.16009 before rotating back to the downside.
