Germany’s ZEW Economic Sentiment Index dropped more than expected in May.
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- Germany’s ZEW Economic Sentiment Index dropped more than expected in May.
- EUR/USD remains unfazed near 1.0900 on the mixed ZEW surveys.
The German ZEW headline number showed that the Economic Sentiment Index deteriorated sharply in May, arriving at-10.7 from 4.1 in April, missing the market expectation of -5.5.
Meanwhile, the Current Situation Index improved to -34.8 from -32.5, bettering the market expectation of -37.5.
During the same period, the Eurozone ZEW Economic Sentiment Index worsened to -9.4 from 6.4, compared to the estimates of 8.2.
The EUR/USD pair has paid a little heed to the mixed data, holding the higher ground near 1.0900, up 0.20% on the day.
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