A set of German ZEW indices for October was released at 10:00 am BST. Economic sentiment index was expected to improve slightly compared to September release but to remain in negative territory. Meanwhile, the current conditions index was expected to deteriorate compared to a month ago.
Actual report turned out to be mixed - economic sentiment index outperformed expectations climbing to -1.1 and current conditions index improved less than expected. ZEW Institute said in a commentary that it seems the lowest point has been passed and there has been a noticeable uptick in the economic expectations of financial market experts in October 2023. According to ZEW, this uptick in expectations is accompanied by anticipation that inflation rates will decrease further.
Germany, ZEW indices for October
- Economic Sentiment: -1.1 vs -9.3 expected (-11.4 previously)
- Current Conditions: -79.9 vs -80.8 expected (-79.4 previously)
EUR as well as European indices ticked higher following the release with EURUSD touching 1.0540 and DE30 climbing back above 15,300 pts.
Source: xStation5
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