- Germany's ZEW economic sentiment index rises to 42.9 in April, its highest level since February 2022
- EUR/USD still does not lift its head after the optimistic ZEW surveys from Germany and the Eurozone.
He ZEW index of German economic sentiment jumped to 42.9 in April from 31.7 in March, beating market expectations of 35.1. This is the best figure reached by the indicator in 26 months, specifically since February 2022.
The current situation index improved from -80.5 to -79.2 in April, its best result in three months.
The ZEW economic sentiment index Eurozone it stood at 43.9 in April, well above the 33.5 reading in March. The data exceeded the market consensus, which placed it at 37.2.
Key points
The recovery of the global economy is boosting expectations for Germany, with half of respondents anticipating the country's economy to rebound in the next six months.
The much improved assessments of the economic situation and expectations in German export destinations also contribute to this greater optimism.
This is reflected, among other things, in the expected appreciation of the US Dollar against the Euro.
Market reaction
He EUR/USD has regained some ground following the encouraging ZEW surveys from Germany and the Eurozone. The pair has risen to 1.0630, a new daily high, and is trading at the time of writing above 1.0629, gaining 0.06% daily.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
