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ZEW Economic Sentiment rose more than expected

Tuesday, Apr 19 2016
The ZEW Indicator of Economic Sentiment for Germany has increased for the second time in a row in April 2016. The index has gained 6.9 points compared to the previous month, now totaling 11.2 points (long-term average: 24.5 points).“Surprisingly positive economic news from China seem to have improved the sentiment amongst financial market experts. On balance, however, the continued poor growth in China and other important emerging markets continues to be a burden for the German export industry. 
Furthermore, concern about Great Britain’s possible exit from the EU seems to be having a negative impact”, comments Professor Sascha Steffen, Head of the Research Department “International Finance and Financial Management” at ZEW. Financial market experts‘ expectations in regard to developments in the Eurozone are improving. The Indicator of Economic Sentiment has recovered by 10.9 points, reaching 21.5 points. The indicator for the current situation in the euro area fell by 0.3 points in April 2016, to minus 12.1 points.
 
Euro is currently being traded few points below 1.1330 level. Pair is likely to find support around 1.1250 handle and resistance above 1.1360 level. Later today, in the US session, Building Permits and Housing Starts figures are scheduled for a release.
More in this category: « RBA repeated that easing of policy is possible if needed Remain campaign takes a lead »

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