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Fundamental Forex Analysis

EUR/USD unfazed even as German April ZEW Economic Sentiment surprises with 28.2

  • German ZEW Economic Sentiment arrived at 28.2 in Apr. vs. -42.3 expected.
  • Eurozone ZEW Economic Sentiment came in at 25.2 in Apr. vs. -49.5 last.
  • EUR/USD keeps losses around 1.0840, ignores mixed numbers.

The German ZEW headline numbers for April showed that the Economic Sentiment Index came in at 28.2 versus -42.3 expectations and -49.5 last.

While the sub-index Current Conditions figure arrived at -91.5 in April versus -77.5 expected and -43.1 booked previously.

ZEW President Professor Achim Wambach noted: “The financial market experts are beginning to see a light at the end of the very long tunnel. The results of the special questions on the coronavirus crisis included in the survey show that the experts do not expect to see positive economic growth until the third quarter of 2020. Economic output is not expected to return to pre-corona levels before 2022.”

Meanwhile, the Eurozone ZEW economic sentiment for April stood at 25.2- vs. -49.5 last.

EUR/USD reaction

The shared currency is little changed on the mixed German and Eurozone ZEW numbers, with EUR/USD now wavering around 1.0840, down 0.18% so far.

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