- German ZEW Economic Sentiment Index unexpectedly improves to -11.4 in September vs. -15.0 expected
Market news
German ZEW Economic Sentiment Index unexpectedly improves to -11.4 in September vs. -15.0 expected
- Germany’s ZEW Economic Sentiment Index improved to -11.4 in September.
- EUR/USD is keeping the red below 1.0750 after the mixed ZEW surveys.
The German ZEW headline number showed that the Economic Sentiment Index slowed its pace of decline in September, arriving at 11.4 from -12.3 in August while beating the market expectation of -15.0.
However, the Current Situation Index dropped sharply to -79.4 from -71.3 prior, missing estimates of -75.0.
During the same period, the Eurozone ZEW Economic Sentiment Index worsened to -8.9 from -5.5 recorded in August.
Key points
Financial market experts are even more pessimistic about the current economic situation in Germany than they were in August 2023.
This development puts the slightly the slightly higher expectations regarding the economic situation on a six-month horizon.
More positive economic expectations for germany are accompanied by significantly optimistic outlook for developments on the international stock markets.
This is, at least in part, attributed to the increasing proportion of respondents who anticipate stable interest rates in the eurozone and the USA.
Experts expect a further easing of interest rate policy in China.
Market reaction
The EUR/USD pair is holding lower ground near 1.0720 on the mixed data, losing 0.26% on the day.
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer