Germany ZEW Survey - Economic Sentiment turns positive 10.5 in June: What it means for EUR/USD?

Sagar Dua FXStreet

German ZEW Survey - Economic Sentiment turns positive to 10.5 in June after remaining negative in May. The data was expected to come in better at -6.0 from the previous reading of -10.2.

The ZEW Survey - Current Situation unexpectedly deteriorates to -81.0 from the previous reading of -77.8. It was expected to improve slightly to -77.5.

In the Eurozone, the ZEW Survey - Economic Sentiment also turns positive. The sentiment data has arrived at 9.5, better than -7.2 estimates, and the prior release of -9.1.

There has been no immediate response observed in the Euro (EUR), following the German data release. However, EUR/USD has gained significantly in the European trade as the peace deal signing between the United States (US) and Iran has diminished the US Dollar’s safe-haven demand.

Euro Price Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Canadian Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.10%	-0.02%	-0.02%	0.09%	0.09%	-0.03%	0.05%
EUR	0.10%		0.09%	0.11%	0.20%	0.19%	0.08%	0.17%
GBP	0.02%	-0.09%		0.02%	0.11%	0.10%	0.00%	0.08%
JPY	0.02%	-0.11%	-0.02%		0.08%	0.07%	-0.02%	0.07%
CAD	-0.09%	-0.20%	-0.11%	-0.08%		-0.01%	-0.13%	-0.04%
AUD	-0.09%	-0.19%	-0.10%	-0.07%	0.00%		-0.10%	-0.01%
NZD	0.03%	-0.08%	0.00%	0.02%	0.13%	0.10%		0.08%
CHF	-0.05%	-0.17%	-0.08%	-0.07%	0.04%	0.01%	-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).

What does significant improvement in Germany/Eurozone ZEW Survey - Economic Sentiment data means for EUR/USD?

The Germany/Eurozone ZEW Survey - Economic Sentiment reflects the sentiment of institutional investors towards the economy. The data shows the difference between the share of investors who are optimistic and the share of analysts who are pessimistic.

Generally, better-than-projected sentiment data improves the appeal of the EUR/USD, while soft figures weigh on the same.

The impact of the data has remained significant in the past few months due to Middle East conflicts, which prompted energy prices and increased pressure on households’ spending.

Technical Analysis: EUR/USD remains inside Symmetrical Triangle formation

EUR/USD trades 0.1% higher at around 1.1603 at press time. The pair holds just above the 20-day exponential moving average (EMA) at 1.1602, which lends modest near-term support, but it remains well below the descending trend-line barrier drawn from 1.1849, keeping the broader tone capped.

The Relative Strength Index (14) at 48 sits near neutral territory, hinting at a lack of clear momentum while price consolidates between supportive short-term averages and the still-dominant downward trend structure.

On the topside, initial resistance is seen at the downtrend break level near 1.1687, with the descending trend line from 1.1849 reinforcing a higher resistance zone. On the downside, the former uptrend break area around 1.1506 is the major support zone ahead of stronger structural support near the original rising trend-line anchor at 1.1409.

(The technical analysis of this story was written with the help of an AI tool.)

Economic Indicator

ZEW Survey – Economic Sentiment

The Economic Sentiment published by the Zentrum für Europäische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).

GBP/USD flirts with tops near 1.3470

GBP/USD manages to regain composure and challenge the area of daily highs around 1.3470 on Friday. Cable picks up pace despite marginal gains in the Greenback in a context of swelling geopolitical tensions and rising global oil prices.

EUR/USD trims losses, back above 1.1500

EUR/USD picks up some pace and bouces off earlier lows, reclaiming the 1.1500 threshold and beyond at the end of the week. The pair’s modest pullback follows a persistent risk-averse market mood and renewed buying interest for the US Dollar.

Gold: The $4,000 mark holds the downside for now

Gold faces renewed selling pressure, falling sharply toweard the $4,000 mark per troy ounce as the US Dollar regains momentum. Escalating US-Iran tensions are keeping inflation concerns and expectations of further Fed rate hikes alive, weighing further on the yellow metal.

Bitcoin eyes 50-day EMA breakout, Ethereum consolidates, XRP steadies

Bitcoin, Ethereum, and Ripple trade near key technical levels on Friday as the broader cryptocurrency market pauses following last week's recovery. BTC is approaching the 50-day Exponential Moving Average while ETH continues to consolidate between two major EMAs.

Warsh needs to restore his reputation

We were glad to see our deeply negative reaction to the Warsh press conference was not some personal peculiarity. Just about everybody in the financial press felt the same way. The consensus is building it’s not the Fed in the dog-house but only Warsh. Today the WSJ changed it tune and blasted Warsh—"the honeymoon is already over..”

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.