In a surprise development, Germany’s ZEW Economic Sentiment Index showed improvement in June.
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- Germany’s ZEW Economic Sentiment Index unexpectedly improved in June.
The German ZEW headline number showed that the Economic Sentiment Index unexpectedly improved in June, arriving at-8.5 from -10.7 seen in May while beating the market expectation of -13.0.
However, the Current Situation Index slumped to -56.5 from -34.8 prior, missing the market expectation of -40.0 by a wide margin.
During the same period, the Eurozone ZEW Economic Sentiment Index worsened to -10.0 from -9.4, compared with the estimates of -1.5.
The EUR/USD pair is gaining upside traction despite the mixed data, hitting fresh monthly highs near 1.0810, up 0.46% on the day.
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