- Germany’s ZEW Economic Sentiment Index climbs to 15.2 in January.
- EUR/USD is holding lower ground below 1.0900 after mixed ZEW surveys.
The headline German ZEW Economic Sentiment Index improved further to 15.2 in January from 12.8 in December. The market forecast was 12.0.
However, the Current Situation Index dropped to -77.3 from -77.1 prior, missing estimates of -77.0.
The Eurozone ZEW Economic Sentiment Index came in at 22.7 in the same period, as against the December reading of 23.0. The data exceeded expectations of 21.9.
Key points
Economic expectations for Germany have improved again.
This is because now more than half of the respondents assume that the ECB will make interest rate cuts in the first half of the year.
There are even more pronounced shifts in the US interest rate expectations.
More than two-thirds of the respondents predict interest rate cuts by the US Fed in the next six months.
The rise in inflation in Germany and the Eurozone in December thus has no impact on the monetary policy expectations of the respondents.
Market reaction
The EUR/USD pair is testing intraday lows near 1.0880 after mixed ZEW surveys, losing 0.58% on the day.
Euro price today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the US Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.53% | 0.57% | 0.45% | 0.68% | 0.51% | 0.49% | 0.53% | |
| EUR | -0.56% | 0.03% | -0.10% | 0.13% | -0.04% | -0.07% | -0.03% | |
| GBP | -0.59% | -0.07% | -0.16% | 0.15% | -0.09% | -0.09% | -0.07% | |
| CAD | -0.47% | 0.09% | 0.11% | 0.30% | 0.07% | 0.01% | 0.09% | |
| AUD | -0.69% | -0.21% | -0.15% | -0.31% | -0.23% | -0.23% | -0.22% | |
| JPY | -0.51% | 0.03% | 0.07% | -0.08% | 0.19% | 0.03% | 0.02% | |
| NZD | -0.49% | 0.03% | 0.09% | -0.08% | 0.23% | 0.00% | 0.02% | |
| CHF | -0.54% | 0.00% | 0.07% | -0.09% | 0.20% | -0.03% | -0.02% |
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 Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD breaks below 1.1000 on stellar NFP
The buying bias in the Greenback gathers extra pace on Friday after the US economy created far more jobs than initially estimated in September, dragging EUR/USD to the area of new lows near 1.0950.
GBP/USD breaches 1.3100 after encouraging US Payrolls
The continuation of the uptrend in the US Dollar motivates GBP/USD to accelerates its losses and breaches 1.3100 the figure in the wake of the release of US NFP.
Gold rebounds from daily lows and flirts with $2,670
Following a post-NFP dip to the $2,640 region, Gold prices now embarks on an acceptable rebound and retest the area of $2,670 per ounce troy despite the marked advance in the US Dollar and rising US yields across the board.
US Payrolls surge in September, as 50bp rate cut ruled out
US payrolls data surprised on the upside in September, rising by 254k, smashing expectations of a 150k rise. The unemployment rate fell to 4.1% from 4.2%, average hourly earnings increased to a 4% YoY rate and there was a 72k upwards revision to the previous two months’ payrolls numbers.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.