German ZEW Economic Sentiment Index climbs to 42.9 in April vs. 35.1 expected

Source Fxstreet
Apr 16, 2024 09:04
  • Germany’s ZEW Economic Sentiment Index jumps to 42.9 in April.
  • EUR/USD remains uninspired by the upbeat German and Eurozone ZEW surveys.

The headline German ZEW Economic Sentiment Index jumped from 31.7 in March to 42.9 in April, beating the market expectations of 35.1.

However, the Current Situation Index improved from -80.5 to -79.2 in the same month.

The Eurozone ZEW Economic Sentiment Index arrived at 43.9 in April, much higher than the March reading of 33.5. The data outpaced the market consensus of 37.2.

Key points

A recovering global economy is boosting expectations for Germany, with half of the respondents anticipating the country’s economy to pick up over the next six months.

Further contributing to the heightened optimism are the much-improved assessments of the situation and economic expectations in Germany’s export destinations.

This is reflected, among other things, in the expected appreciation of the us dollar against the Euro.

Market reaction

The EUR/USD pair is little impresseed by encouraging German and Eurozone ZEW surveys. The pair is amost unchanged on the day at 1.0620, at the press time.

 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
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