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German ZEW Economic Sentiment improved in March

Tuesday, Mar 22 2016
The ZEW Indicator of Economic Sentiment for Germany has slightly increased in March 2016. The index has improved by 3.3 points compared to the previous month, now standing at 4.3 points, but missed expectations on incline to 6.3 points.
 "The uncertainty associated with the future economic development of important emerging economies, with the development of the oil price and with the external value of the euro continues to call for caution. Apparently, the renewed move of the ECB to considerably ease its monetary policy has not had a substantial effect on economic sentiment", says Professor Sascha Steffen, head of the ZEW Research Department "International Finance and Financial Management".
 
The assessment of the current situation in Germany is worsening. Slightly decreasing by 1.6 points, the index now stands at 50.7 points. Financial market experts' sentiment concerning the economic development of the Eurozone has weakened. ZEW’s Indicator of Economic Sentiment for the Eurozone has decreased by 3.0 points to a reading of 10.6 points. Decrease to 8.2 points was predicted. Losing 3.8 points in March 2016, the indicator for the current situation in the euro area has fallen to a value of minus 11.8 points.
 
Euro is currently being traded few points above 1.12 level. Pair is likely to find support around 1.1150 handle and resistance above 1.1250 level. There will be no major data releases in the rest of the session.
More in this category: « UK CPI unchanged in February ANZ forecasts no rate cuts for the rest of the year »

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