BREAKING: German ZEW with huge miss. Sentiments across German economy worsens 📉

German ZEW economic sentiments came in 3.6 vs 17 exp. and 19.4 previously

Current conditions: -84 vs -80 exp. and -77.3 previously
Expectations: 9.3 vs 17.9 previously

EURUSD drops after a huge miss in ZEW sentiment data signalling further weakening and downside risks across the German economy, where structural problems will persist despite ECB rate cuts. Much weaker sentiments may point to recessionary and even deflationary impulses in the biggest, European economy.

Source: xStation5

Source: ZEW Zentrum, XTB Research, Macrobond

26 January 2026, 08:18

Economic calendar: Ifo data from Germany and retail sales in Poland 💡Wall Street earnings calendar❗

23 January 2026, 07:36

Economic calendar: PMI from Europe and the US in the spotlight (23.01.2026)

22 January 2026, 18:56

Daily summary: Wall Street, precious metals and EURUSD surge📈Bitcoin under pressure

22 January 2026, 07:30

Economic calendar: Key U.S. data to shift focus from geopolitics (22.01.2026)

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Economic reports

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
adobe_unique_id	Expiration date 364 days
test_cookie	Expiration date 1 hour
SESSID	Expiration date 1 day
__hssc	Expiration date 1 hour
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
xtbLanguageSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
userPreviousBranchSymbol	Expiration date 364 days
_cfuvid
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
UserMatchHistory	Expiration date 29 days

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-22576382-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
AnalyticsSyncHistory	Expiration date 29 days
af_id	Expiration date 394 days
afUserId	Expiration date 729 days
AF_SYNC	Expiration date 6 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
_gcl_au	Expiration date 89 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
muc_ads	Expiration date 729 days
lang
_ttp	Expiration date 389 days
_tt_enable_cookie	Expiration date 389 days
hubspotutk	Expiration date 179 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
MSPTC	Expiration date 389 days
IDE	Expiration date 389 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days

Cookie name	Description
personalization_id	Expiration date 729 days
UserMatchHistory	Expiration date 29 days
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
lang
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days

BREAKING: German ZEW with huge miss. Sentiments across German economy worsens 📉

Join over 2 Million investors from around the world