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- German ZEW Economic Sentiment Index unexpectedly rises to 29.9 in December
German ZEW Economic Sentiment Index unexpectedly rises to 29.9 in December
- German ZEW Economic Sentiment arrived at 29.9 in December, down from 31.7 previous.
- The ZEW Current Situation for Germany came in at -7.4 in December vs. 12.5 in November.
- EUR/USD remains in the red below 1.1300 on mixed ZEW data.
The German ZEW headline numbers for December showed that the Economic Sentiment Index unexpectedly improved to 29.9 from 31.7 previous while beating estimates of 25.3.
Meanwhile, the Current Conditions sub-index slumped to -7.4 in December as against 12.5 recorded in the previous month and 5.0 expectations.
The Eurozone ZEW Economic Sentiment for December rose to 26.8 for the current month as compared to the 25.9 previous.
Separately, the third estimate of the bloc’s Q3 Gross Domestic Product (GDP) came in at 2.2% QoQ vs. 2.2% expected and 2.2% previous.
The Eurozone Employment Change for Q3 arrived at 0.9% QoQ vs. 0.9% expected.
FX market reaction
The euro remains pressured against the US dollar on the mixed ZEW Surveys. EUR/USD drops 0.12% on the day to trade at 1.1272, as of writing.
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