BREAKING: ZEW sentiment above expectation but remians weak!

German ZEW indices for June were released today at 10:00 am BST.

• Economic sentiment: -8.5 vs -13.5 expected (-10.7 previously)

• Current conditions: -65.5 vs -40.2 expected (-34.8 previously)

The main figure has fallen short of expectations, however, the forecasted reading appears to be slightly better, exceeding the predicted decline. ZEW emphasizes that, currently, experts aren't forecasting an economic recovery for the second half of 2023. Nonetheless, the prevailing recession is not regarded as exceedingly concerning.

DE30 Index slightly dropped after the publication but with no strong movements, M15 interval, source: xStation 5