The index ZEW economic sentiment from Germany has plummeted to -55.3 points in August compared to -53.8 previously and expected by the market. This is his worst result since October 2008.
The German ZEW Current Situation has also retreated to -47.6 from -45.8 previously. Although it is the worst result recorded since April 2021, it has improved market expectations, which expected a decline to -48.
The Eurozone economic sentiment ZEW has fallen 3.8 points in August, falling back to -54.9 from -51.1, well below the -42.5 expected. This is the lowest reading seen on the indicator since November 2011.
EUR/USD Reaction
The EUR/USD has reacted lower after the data and has fallen to fresh lows of almost two weeks at 1.0125. At time of writing, the pair is trading above 1.0136, shedding 0.25% on the day.
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
