Currency Note EUR

EUR: German ZEW economic sentiment improves

 

The highlight from the eurozone today was the German ZEW economic sentiment index for September. The last reading was disappointing, coming in at -13.7 and it had been expected to fall further to -14. However, it came in much better than forecast, at -10.6. While that is clearly a figure to be concerned about, it is the highest reading since May, with fears over economic development diminishing a little.

In the eurozone, the ZEW also surprised, coming in at -7.2 against expectations of -10.9. We also saw that the number of people employed in the eurozone increased by 0.4% in the second quarter of 2018, which was in line with market expectations. Compared to the same quarter last year, employment increased by 1.5% which was slightly better than the 1.4% expected.

Today we have the industrial productions figures from the eurozone, which are expected to fall to 1% in July from 2.5% in the same month last year.

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