The index ZEW economic sentiment for Germany has fallen more than 6 points in July, slipping to -14.7 from -8.5 in June. The result worsens consensus expectations, which predicted a decline to -10. The July figure is the lowest recorded in seven months, since December 2022.
The current situation German ZEW has fallen three points, from -56.5 to -59.5, its lowest reading in seven months. Despite the drop, the data has improved the market forecast by half a point, which expected a drop to -60.
He ZEW economic sentiment for the euro zone has fallen more than two points in July, standing at -12.2 from -10 prior, worsening from -10.2 expected. This is the worst figure recorded since December 2022.
EUR/USD reaction
EUR/USD has pulled back on the data, after dollar weakness propelled it to a two-month high at 1.1027. Following the release, the pair has fallen to 1.0998, a fresh daily low. At time of writing, the cross is trading above 1.0999, losing 0.02% 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.
