German ZEW Economic Sentiment Index rises to 52.7 in July vs. 50 expected
- Germany’s ZEW Economic Sentiment Index climbs to 52.7 in July.
- EUR/USD holds gains just below 1.1700 after German and Eurozone ZEW surveys.
The headline German ZEW Economic Sentiment Index jumped to 52.7 in July from 47.5 in June, beating the market expectations of 50.
The Current Situation Index improved to -59.5 in the same period, as against the June reading of -72. The market forecast was for -65.5 reading.
The Eurozone ZEW Economic Sentiment Index came in at 36.1 in July from 35.3 in June. Data missed the estimated print of 37.8.
Key points
After the strong improvements of the past two months, the positive sentiment among respondents is becoming more firmly established.
Despite ongoing uncertainty due to global trade conflicts, nearly two-thirds of the experts expect the German economy to improve.
Hopes for a quick resolution to the US-EU tariff dispute, along with potential economic stimulus from the German government’s planned immediate investment programme, appear to be shaping overall sentiment.
Increased optimism is particularly reflected in significantly improved expectations for mechanical engineering and metal production, followed by the electrical industry.
Market reaction
The EUR/USD pair keeps its range below 1.1700 after the mixed German and Eurozone ZEW surveys. The pair is trading 0.18% higher on the day at around 1.1680, as of writing.
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.18% | -0.11% | -0.06% | -0.12% | -0.27% | -0.31% | -0.40% | |
| EUR | 0.18% | 0.00% | 0.10% | 0.05% | -0.13% | -0.19% | -0.21% | |
| GBP | 0.11% | -0.00% | 0.08% | 0.04% | -0.16% | -0.22% | -0.06% | |
| JPY | 0.06% | -0.10% | -0.08% | -0.07% | -0.19% | -0.29% | -0.25% | |
| CAD | 0.12% | -0.05% | -0.04% | 0.07% | -0.14% | -0.26% | -0.11% | |
| AUD | 0.27% | 0.13% | 0.16% | 0.19% | 0.14% | -0.07% | 0.04% | |
| NZD | 0.31% | 0.19% | 0.22% | 0.29% | 0.26% | 0.07% | 0.15% | |
| CHF | 0.40% | 0.21% | 0.06% | 0.25% | 0.11% | -0.04% | -0.15% |
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.
