German ZEW Economic Sentiment Index slides to -14 in April vs. +9.3 expected
Source Fxstreet
- Germany’s ZEW Economic Sentiment Index tumbled to -14 in April.
- EUR/USD holds losses near 1.1350 after German and Eurozone ZEW surveys.
The headline German ZEW Economic Sentiment Index declined sharply to -14 in April from 51.6 in March, missing the market estimate of 9.3 by a wide margin.
The Current Situation Index improved to -81.2 in the same period, as against the March reading of -87.6. Data beat the expected -86 figure.
The Eurozone ZEW Economic Sentiment Index dropped to -18.5 in April from 39.8 in March. The market consensus was 14.2.
Key points
- Erratic changes in the us trade policy are weighing heavily on expectations in Germany.
- Not only the consequences the announced reciprocal tariffs may have on global trade, but also the dynamics of their changes, that have massively increased global uncertainty.
- Economic expectations for Germany and the eurozone reflect this development.
Market reaction
The EUR/USD pair remains in the red after the mixed German and Eurozone ZEW surveys. The pair is losing 0.07% on the day to trade near 1.0950, as of writing.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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