German ZEW Economic Sentiment Index drops to 34.7 in August vs. 40 expected
- Germany’s ZEW Economic Sentiment Index fell to 34.7 in August.
- EUR/USD hovers above 1.1600 after German and Eurozone ZEW surveys.
The headline German ZEW Economic Sentiment Index fell to 34.7 in August from 52.7 in July, missing the market forecast of 40.
The Current Situation Index declined to -68.6 in the same period, as against the July reading of -59.5. The market expectations were for -65 reading.
The Eurozone ZEW Economic Sentiment Index stood at 25.1 in August from 36.1 in July. Data missed the estimated print of 28.1.
Key points
Financial market experts are disappointed from the announced EU–US trade deal.
Outlook has worsened in particular for the chemical and pharmaceutical industries.
Mechanical engineering and metal sectors as well as the automotive industry are also severely affected.
Market reaction
The EUR/USD pair keeps its range play intact just above 1.1600 after the downbeat German and Eurozone ZEW surveys. The pair is trading flat on the day at around 1.1615, as of writing.
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.03% | -0.24% | 0.18% | 0.08% | 0.28% | 0.16% | -0.32% | |
| EUR | -0.03% | -0.25% | 0.16% | 0.08% | 0.28% | 0.16% | -0.31% | |
| GBP | 0.24% | 0.25% | 0.52% | 0.33% | 0.53% | 0.42% | -0.07% | |
| JPY | -0.18% | -0.16% | -0.52% | -0.08% | 0.09% | -0.02% | -0.39% | |
| CAD | -0.08% | -0.08% | -0.33% | 0.08% | 0.23% | 0.07% | -0.39% | |
| AUD | -0.28% | -0.28% | -0.53% | -0.09% | -0.23% | -0.12% | -0.59% | |
| NZD | -0.16% | -0.16% | -0.42% | 0.02% | -0.07% | 0.12% | -0.57% | |
| CHF | 0.32% | 0.31% | 0.07% | 0.39% | 0.39% | 0.59% | 0.57% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
