EUR/USD struggles to hold above 1.1600 mark, Eurozone investor confidence eases

Euro is witnessing tepid moves today as a rally to one-week high above 1.1600 mark against the US dollar is failing to sustain amid weak economic cues. Eurozone investor confidence eased in November as the economy struggles to emerge from the slump, survey results from the behavioral research institute Sentix showed on Monday. The investor confidence index slipped to -7.4 in November from -5.4 in October. The current situation indicator came at -17.5, down from -16.0 in October while the expectations indicator dropped to 3.3 from 5.8 a month ago. This kept EUR/USD pair under stress in a choppy session yesterday and a similar pattern is being seen today as well. The pair currently lingers at 1.1583, almost unchanged on the day. On NSE, EUR/INR futures are quoting at 102.74, unaltered on the day.

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