The Eurozone Sentix Investor Confidence index deteriorates to -13.1 in May from -8.7 booked in in April vs. -9.2 expected.

The Index on the Current Situation dipped to -9.0 from -2.3 in April, bringing back talk about a recession.

The Index on Expectations in particular took a fall, decreasing to -19.0 in May from -13.0 in April, its lowest level since December 2022.

Key takeaways

"The economic recovery, which is built on feet of clay, is thus beginning to falter,"

The Index on Expectations tumbled, "wiping out all hopes of an economic revival following the outbreak of the Ukraine war.”

EUR/USD reaction 

The shared currency is unfazed by the downbeat Eurozone Sentix data. EUR/USD is trading at 1.1048, up 0.29% on the day.