10:02 AM · 17 September 2024

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

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