German ZEW Economic Sentiment Index slides to -14 in April vs. +9.3 expected
- Germany’s ZEW Economic Sentiment Index tumbled to -14 in April.
- EUR/USD holds losses near 1.1350 after German and Eurozone ZEW surveys.
The headline German ZEW Economic Sentiment Index declined sharply to -14 in April from 51.6 in March, missing the market estimate of 9.3 by a wide margin.
The Current Situation Index improved to -81.2 in the same period, as against the March reading of -87.6. Data beat the expected -86 figure.
The Eurozone ZEW Economic Sentiment Index dropped to -18.5 in April from 39.8 in March. The market consensus was 14.2.
Key points
- Erratic changes in the us trade policy are weighing heavily on expectations in Germany.
- Not only the consequences the announced reciprocal tariffs may have on global trade, but also the dynamics of their changes, that have massively increased global uncertainty.
- Economic expectations for Germany and the eurozone reflect this development.
Market reaction
The EUR/USD pair remains in the red after the mixed German and Eurozone ZEW surveys. The pair is losing 0.07% on the day to trade near 1.0950, as of writing.
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Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
