Mubasher: Investor confidence in the Eurozone saw an improvement in April, touching its highest level since last November, according to survey result on Monday.

Frankfurt-headquartered Sentix research group’s sentiment index for the Eurozone rose to -0.3 from -2.2 last March, according to a poll of 936 investors running from 4 to 8 April.

A sub-index of expectations extended its improvement for the third consecutive month, hitting -4.3, the highest since May last year, up from -10.3 in March.

However, the gauge for the current situation came in at 3.8, declining for the eighth straight month, while this was the weakest reading since February 2015.

The economic situation in the Eurozone was still fragile, Sentix said, adding that the pace of decline is slowing, while expectations are rising.

“With the exception of the tiresome Brexit discussion, the fact that this is being achieved seems to lie less in the hands of the Europeans themselves than in the further development of the two economic heavyweights China and the US,” Sentix managing director Manfred Huebner said.

A separate gauge measuring investor morale in Germany dropped to 2.1, the lowest level recorded August 2012, while the index for expectations came at -6 rising for the third month in a row.

By 11:36 am GMT, the EUR/USD pair rose 0.26% to $1.1245.