The German ZEW headline numbers for September showed that the economic sentiment index came in at -22.5 versus -37.0 expectations and -44.1 last. While the sub-index current conditions figure dropped to -19.9 in August versus -15.0 expected and -13.5 booked previously.
ZEW President Professor Achim Wambach noted: “The rise of the ZEW Indicator of Economic Sentiment is by no means an all-clear concerning the development of the German economy in the next six months. The outlook remains negative. However, the rather strong fears that financial experts had in the previous month regarding a further intensification of the trade conflict between the USA and China did not come true. And there is still hope that a no-deal Brexit can be avoided. In addition, the European Central Bank is attempting to reduce the economic risks in the eurozone by further easing its monetary policy.”
Meanwhile, the Eurozone ZEW economic sentiment for September arrived at -22.4 vs. -32.2 expected and -43.6 last.
The shared currency turned slightly lower on mixed German and Eurozone ZEW surveys, with EUR/USD off the highs in familiar range just ahead of the 1.10 handle.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.