German ZEW Economic Sentiment Index edges higher to 47.5 in June vs. 50.0 expected
- Germany’s ZEW Economic Sentiment Index improves slightly to 47.5 in June.
- EUR/USD keeps losses below 1.0750 after the mixed German and Eurozone ZEW surveys.
The headline German ZEW Economic Sentiment Index edges a tad higher from 47.1 in May to 47.5 in June. The market consensus was for a 50.0 print.
The Current Situation Index, however, dropped from -72.3 in May to -73.8 in the same month, missing the estimates of -65.0 in the reported period.
The Eurozone ZEW Economic Sentiment Index arrived at 51.3 in June, much higher than the May reading of 47.0. The data surpassed the market expectations of 47.8.
Key points
“Both the sentiment and the situation indicators stagnate.”
“These developments must be interpreted in the context of a constant situation indicator for the eurozone as a whole.”
“In contrast, the inflation expectations of the respondents increase, which is likely related to the inflation rate in may, which turned out higher than what was expected.”
Market reaction
The EUR/USD pair is little changed after the mixed German and Eurozone ZEW surveys. The pair is losing 0.13% on the day to trade near 1.0720, at the press time.
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 | 0.12% | 0.18% | 0.25% | 0.20% | -0.07% | 0.40% | -0.13% | |
| EUR | -0.12% | 0.04% | 0.10% | 0.07% | -0.21% | 0.28% | -0.24% | |
| GBP | -0.18% | -0.04% | 0.06% | 0.03% | -0.25% | 0.24% | -0.31% | |
| JPY | -0.25% | -0.10% | -0.06% | -0.04% | -0.32% | 0.16% | -0.39% | |
| CAD | -0.20% | -0.07% | -0.03% | 0.04% | -0.27% | 0.18% | -0.33% | |
| AUD | 0.07% | 0.21% | 0.25% | 0.32% | 0.27% | 0.47% | -0.06% | |
| NZD | -0.40% | -0.28% | -0.24% | -0.16% | -0.18% | -0.47% | -0.54% | |
| CHF | 0.13% | 0.24% | 0.31% | 0.39% | 0.33% | 0.06% | 0.54% |
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.
