German ZEW Economic Sentiment Index improves to -59.2 in October vs. -65.7 expected

  • German ZEW Economic Sentiment arrived at -59.2 in October vs. -65.7 expected.
  • The ZEW Current Situation for Germany came in at -72.2 in October vs. -68.0 expected.
  • EUR/USD hovers above 1.0150 despite downbeat German and Eurozone data.

The German ZEW headline numbers for October showed that the Economic Sentiment Index improved to -59.2 while beating estimates of -65.7 vs. -61.9 previous.

Meanwhile, the Current Situation sub-index arrived at -72.2 in October vs. -68.0 expectations and September’s -60.5.

The Eurozone ZEW Economic Sentiment Index stood at -59.7 in the current month as compared to the -60.7 previous reading and -60.6 expected.  

Key takeaways

The current economic situation is once again assessed as significantly worse than in the previous month.

Probability that real gross domestic product will decline in the course of the next six months has also increased considerably.

Overall, the economic outlook has deteriorated again.

FX market reaction

The euro pays little heed to the mixed ZEW Surveys from Germany and Eurozone. EUR/USD was last seen trading at 0.9940, almost unchanged on the day.

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