The index Eurozone Economic Sentiment ZEW has improved more than 11 points in October, standing at 2.3 from -8.9 in September and improving the -8 expected by the market consensus.
This is the first positive figure for the indicator after five consecutive negative months.
Germany’s ZEW Economic Sentiment has improved more than 10 points, rising to -1.1 from -11.4 the previous month. This is its best record in six months, specifically since last April. The indicator has exceeded market expectations, since a reduction to -9 points was expected.
He Germany’s current situation ZEW has fallen five tenths, sliding to -79.9 from -79.4 the previous month, reaching its worst record since August 2020. Despite this drop, the indicator has improved the forecasts of experts, who pointed to a decline towards -80.5. The current ZEW has remained in negative territory for almost two years, specifically since December 2021.
EUR/USD reaction
EUR/USD has risen nearly 10 pips on the release, settling in the 1.0545 area and moving away from the day’s lows tested in the early European morning at 1.0532. At the time of writing, the pair is trading above 1.0544, losing 0.15% 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.
