• Eurozone Sentix Investor Confidence for October came in better than expected.
• EUR/USD trades deep in negative territory below 1.0550.

Investor sentiment in the Eurozone deteriorated slightly in October, with Sentix Investor Confidence Index edging lower to -21.9 from -21.5 in September. This reading came in better than the market expectation of -24.

Assessing the survey's findings, "in the Eurozone, and especially in Germany, the economic situation remains weak and the recessionary tendencies persist," said Sentix Managing Director Manfred Huebner.

"At least there is a slight ray of hope in the form of rising expectations. However, it would be premature to declare a turnaround," he added.

Market reaction

EUR/USD remains under bearish pressure in the European trading hours on Monday and was last seen losing 0.5% on the day at 1.0535.