ZEW Economic Sentiment showed mixed data
The ZEW Indicator of Economic Sentiment for Germany declines again in August 2015. Decreasing by 4.7 points compared to the previous month, the index now stands at a level of 25.0 points (long-term average: 24.9 points). Analysts were anticipating incline to 31.7.
“The German economic engine is still running smoothly. However, under the current geopolitical and global economic circumstances a substantial improvement of the economic situation in Germany over the medium term is improbable. That is why economic sentiment has declined”, says ZEW President Professor Clemens Fuest.
ZEW’s Indicator of Economic Sentiment for the Eurozone has increased by 4.9 points to a reading of 47.6 points, above forecasted increase of 43.9. Gaining 4.1 points in August 2015, the indicator for the current situation in the euro area has reached a value of minus 10.3 points.
Data did not have major impact on euro which is currently being traded around 1.1030 area. Pair is likely to find support around 1.0970 level and resistance above 1.1080 area.
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