German ZEW Economic Sentiment Index falls further 26.5 in September, misses estimates
- German ZEW Economic Sentiment arrived at 26.5 in September, down from 40.4 previous.
- The ZEW Current Situation for Germany came in at 31.9 in September vs. 29.3 in August.
- EUR/USD keeps its rebound intact around 1.1880 on downbeat ZEW data.
The German ZEW headline numbers for September showed that the Economic Sentiment Index deteriorated to 26.5 from 40.4 previous while missing estimates of 30.0.
Meanwhile, the Current Conditions sub-index rose to 31.9 in September as against 29.3 recorded in the previous month and 34.0 expectations.
The Eurozone ZEW Economic Sentiment for September slumped to 31.1 for the current month as compared to the 42.7 previous and 52.2 consensus forecast.
Separately, Eurozone Q2 GDP growth was revised up to +2.2% QoQ and to +14.3% YoY.
FX market reaction
The euro showed little to no reaction to the downbeat ZEW Surveys, but EUR/USD held onto its rebound from 1.1860 lows on Eurozone GDP’s upward revision.
The spot was last seen trading at 1.1875, modestly flat on the day.
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.
