German ZEW Economic Sentiment Index slumps to 3.6 in September vs. 17.1 expected
- Germany’s ZEW Economic Sentiment Index falls further to 3.6 in September.
- EUR/USD holds gains below 1.1150 after German and Eurozone ZEW surveys.
The headline German ZEW Economic Sentiment Index dropped further to 3.6 in September from 19.2 reported in August, missing the market expectations of 17.1 by a wide margin.
The Current Situation Index, however, deteriorated further to -84.5 in the ninth month of the year, compared to August’s -77.3.
The Eurozone ZEW Economic Sentiment Index arrived at 9.3 in September versus the August figure of 17.9. The data fell short of the market forecast of 17.6.
Key points
Hope for a swift improvement in the economic situation is visibly fading.
Once again observe a noticeable decline in economic expectations for Germany.
Number of optimists and pessimists is now evenly balanced.
Most respondents appear to have already factored the ECB's interest rate decision into their expectations.
Market reaction
The EUR/USD pair is unperturbed by discouraging German and Eurozone ZEW surveys. The pair is adding 0.09% on the day to trade near 1.1142, 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 strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.06% | -0.07% | -0.06% | -0.02% | -0.20% | -0.10% | -0.16% | |
| EUR | 0.06% | -0.01% | -0.02% | 0.00% | -0.14% | -0.04% | -0.09% | |
| GBP | 0.07% | 0.01% | 0.00% | 0.04% | -0.13% | -0.04% | -0.10% | |
| JPY | 0.06% | 0.02% | 0.00% | 0.05% | -0.14% | -0.04% | -0.12% | |
| CAD | 0.02% | 0.00% | -0.04% | -0.05% | -0.17% | -0.07% | -0.16% | |
| AUD | 0.20% | 0.14% | 0.13% | 0.14% | 0.17% | 0.09% | 0.02% | |
| NZD | 0.10% | 0.04% | 0.04% | 0.04% | 0.07% | -0.09% | -0.08% | |
| CHF | 0.16% | 0.09% | 0.10% | 0.12% | 0.16% | -0.02% | 0.08% |
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.
