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- German ZEW Economic Sentiment Index drops to 22.3 in October, misses estimates
German ZEW Economic Sentiment Index drops to 22.3 in October, misses estimates
- German ZEW Economic Sentiment arrived at 22.3 in October, down from 26.5 previous.
- The ZEW Current Situation for Germany came in 21.6 at in October vs. 31.9 in September.
- EUR/USD remains unfazed around 1.1560 on downbeat ZEW data.
The German ZEW headline numbers for October showed that the Economic Sentiment Index worsened to 22.3 from 26.5 previous while missing estimates of 24.0.
Meanwhile, the Current Conditions sub-index dropped to 21.6 in October as against 31.9 recorded in the previous month and 29.5 expectations.
The Eurozone ZEW Economic Sentiment for October fell to 21.0 for the current month as compared to the 31.1 previous and 37.0 consensus forecast.
FX market reaction
The euro kept its retreat from daily highs intact on the downbeat ZEW Surveys, but EUR/USD held well above the 1.1550 level.
The spot was last seen trading at 1.1563, up 0.10% on the day.
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