Consumer confidence in the euro area weakened in November with the European Commission's Consumer Confidence Indicator falling to -6.8 (flash) from -5.5 in October. This reading came in slightly worse than median forecasts for -5.5.

The data reflects an uptick in Covid-19 infections in the Eurozone over the last few weeks. The final consumer confidence indicator, released later in the month, will likely show further deterioration to reflect the imposition in recent days of lockdown restrictions. 

Market Reaction

The data has not impacted FX markets, with EUR/USD trading just under 1.1250, just above year-to-date lows printed earlier in the session in the 1.1230s.