April eurozone flash consumer confidence -20.6 vs -16.3 prior

Eurozone flash consumer confidence for April plunged to -20.6 from -16.3, signalling a sharp deterioration in household sentiment and deepening stagflation worries. The European Commission blamed a collapse in expectations for the overall economy, weaker views on future finances and big-ticket purchases, and higher energy/inflation fears linked to the Iran conflict. The wider Economic Sentiment Indicator also fell to 96.6, and EU-wide consumer sentiment dropped to -15.2. These data increase downside pressure on the euro (EURUSD) and heighten the risk of weaker private-sector output, potentially complicating ECB policy decisions and weighing on European risk assets.