• Eurozone Consumer Confidence Index edged slightly higher in February's flash estimate.
• EUR/USD continues to trade in a tight range at around 1.0700.

Consumer sentiment in the Euro area improved modestly in February with the European Commission's Consumer Confidence Indicator rising to -19 (flash estimate) from -20.9 in January.

For the EU, the Consumer Confidence Indicator rose by 1.5 points to -20.6.

"Despite this fourth consecutive monthly improvement, at -20.6 (EU) and ‑19.0 (EA) pps., consumer confidence remains well below its long-term average," the European Commission noted in its publication.

Market reaction

This data failed to trigger a noticeable reaction in EUR/USD. As of writing, the pair was virtually unchanged on a daily basis at 1.0692.