Forex Pros – Investor confidence in the euro zone unexpectedly declined in May, industry data showed on Monday.

In a report, market research group, Sentix said its index of investor confidence dropped to 10.9 in May, compared to April’s reading of 14.2.

Analysts had expected the index to ease up to 14.3 in May.

On the index, a level above 0.0 indicates optimism, below indicates pessimism.

Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD climbing 0.81% to hit 1.4433.

Meanwhile, European stock markets were downr. The FTSE 100 shed 0.14%, the EURO STOXX 50 slumped 0.9%, France’s CAC 40 fell 0.55%, while Germany’s DAX sank 0.55%.