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ZEW Economic Sentiment increased in October

Tuesday, Oct 11 2016
ZEW Economic Sentiment increased in October

The ZEW Indicator of Economic Sentiment for Germany increased in October 2016. The index gained 5.7 points compared to the previous month, now standing at a level of 6.2 points (long-term average: 24.1 points). "The improved economic sentiment is a sign of a relatively robust economic activity in Germany. However, positive impulses from industry and exports should not distract from existing political and economic risks. In particular, the risks concerning the German banking sector are currently a burden to the economic outlook," comments ZEW President Professor Achim Wambach.

The assessment of the current situation in Germany has also increased. Gaining 4.4 points, the index now stands at 59.5 points. Financial market experts’ sentiment concerning the economic development of the eurozone has improved notably. The respective indicator has increased by 6.9 points to a reading of 12.3 points. On the other hand, the indicator for the current situation in the eurozone declined by 2.3 points in October 2016 to a level of minus 12.8 points.

 

Euro is currently being traded around 1.11 handle. Pair is likely to find support around 1.1050 area and resistance above 1.1130 level.

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