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Eurozone Sentiment Falls Short of Expectations
Confirmed
In Short: Eurozone economic sentiment weakened in September, falling below expectations and its long-term average.
The Eurozone economic sentiment weakened in September, falling from 98.4 to 97.9, below the expected 99.0 and its long-term average of 100, according to data released on Tuesday.
Employment expectations also softened, with the Employment Expectations Indicator declining from 98.8 to 97.5, further below its long-term average.
Despite better employment plans in industry and construction, hiring expectations weakened particularly in retail and services.
The September survey indicated an increasingly uneven recovery rather than a broad deterioration, with inflation expectations rising and selling-price expectations increasing sharply in industry and construction.
The Euro traded mixed on Monday as investors anticipated next week's Eurozone inflation data, with economists expecting the European Central Bank to resume raising interest rates.
Gold prices recovered toward $4,195 during the European session on September 30, rebounding from a seven-week low.
Oil prices were down on Friday prior to the data release as Europe announced it would release additional crude oil and diesel from emergency reserves.
The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday, with the total rig count in the US falling to 598, up 49 from this same time last year.
Current market pricing shows a 42.6% probability of another rate hike in October, while expectations for another hike before December remain elevated.
US stock futures advanced as declining oil prices and falling bond yields helped lift market sentiment.
Consumer stocks slid, while Nvidia and AMD held steadier.
Elsewhere, Dave & Buster's shares fell nearly 14% premarket after revenue missed expectations, while Coinbase and Strategy dropped more than 4.5% each as bitcoin declined nearly 3%.
What this adds
The US economy added 29,000 jobs in September, far below economists’ expectations.
The US added 29,000 jobs in September, a figure that fell short of expectations.
The US economy added 29,000 jobs in September, a number that was below economists’ expectations.
Background
The Eurozone economic sentiment weakened in September, falling from 98.4 to 97.9, below the expected 99.0 and its long-term average of 100.
What's confirmed
- The Eurozone economic sentiment weakened in September, falling from 98.4 to 97.9, below the expected 99.0 and its long-term average of 100, according to data released on Tuesday.
- Employment expectations also softened, with the Employment Expectations Indicator declining from 98.8 to 97.5, further below its long-term average.
- Despite better employment plans in industry and construction, hiring expectations weakened particularly in retail and services.
- The September survey indicated an increasingly uneven recovery rather than a broad deterioration, with inflation expectations rising and selling-price expectations increasing sharply in industry and construction.
- The Euro traded mixed on Monday as investors anticipated next week's Eurozone inflation data, with economists expecting the European Central Bank to resume raising interest rates.
- Gold prices recovered toward $4,195 during the European session on September 30, rebounding from a seven-week low.
- Oil prices were down on Friday prior to the data release as Europe announced it would release additional crude oil and diesel from emergency reserves.
- The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday, with the total rig count in the US falling to 598, up 49 from this same time last year.
- Current market pricing shows a 42.6% probability of another rate hike in October, while expectations for another hike before December remain elevated.
- US stock futures advanced as declining oil prices and falling bond yields helped lift market sentiment.
- Consumer stocks slid, while Nvidia and AMD held steadier.
- Elsewhere, Dave & Buster's shares fell nearly 14% premarket after revenue missed expectations, while Coinbase and Strategy dropped more than 4.5% each as bitcoin declined nearly 3%.
What's still developing
- While technical indicators show a short-term oversold recovery, the RSI near 41 suggests lingering weakness.
- August PCE inflation data, which will guide Federal Reserve monetary policy expectations and subsequent rate-hike probabilities.
- Conversely, primary support remains at $4,100; a breakdown below this level risks pushing prices toward the $4,000 threshold.
- TradingKey - As of the European session on September 30, gold prices ( XAUUSD ) continued to recover after a sharp drop earlier this week, reclaiming $4,200 intraday, with the latest price trading near $4,195.
- August PCE inflation data is about to be released, short-term market focus has shifted back to inflation and the Federal Reserve's subsequent rate-hike path.
- Crédit Agricole noted that energy was again a key factor in Eurozone inflation, describing it as 'back in the driver's seat.
- Instead, it will focus on players who could exceed or fall short of their statistical expectations at each position.
- Lower inflation expectations helped drag US Treasury yields down from recent multi-year peaks, with the benchmark 10-year yield dropping to around 4.93% after briefly breaching the 5.0% mark earlier in the week.
- US Market | Dow Jones Highlights: US stocks fall as rising oil prices and a jump in Treasury yields pressure markets ahead of the Federal Reserve's rate decision.
- Bond markets around the globe saw yields rise, in part due to continued pressure from rising oil prices, which have boosted expectations for central banks around the globe to raise interest rates.
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- John Cameron Pound to Euro Falls after BoE Holds Rates in 6-3 Vote Pound to Euro Today: GBP Higher as Eurozone Sentiment Disappoints Modified: Tuesday, 29 September 2026 20:01 BST - Written by David Woodsmith STORY LINK Pound to Euro Today: GBP Higher as Eurozone Sentiment Disappoints The Pound Euro exchange rate managed a modest rise on Tuesday amid disappointing Eurozone data, although the absence of fresh UK data kept gains in check.