Economic Sentiment Across Germany and the Eurozone Peg Back the EUR

It was a busier start to the day on the Eurozone economic calendar today.

Ahead of the European session, trade data from China impressed, supporting demand for riskier assets.

Early in the European session, however, economic sentiment figures for Germany and the Eurozone were in focus. Following a string of impressive stats, today’s numbers disappointed.

Economic Sentiment Wanes

In April, Germany’s ZEW Economic Sentiment Indicator fell from 76.6 to 70.7. Economists had forecast a rise to 79.0. The Current Conditions indicator rose from -61.0 to -48.8. Economist had forecast an increase to -53.0.

For the Eurozone, the Economic Sentiment Indicator fell from 74.0 to 66.3.

Market Impact

Ahead of retail sales figures, the EUR had struck to a pre-release high and current day high $1.1916 before falling to pre-stat and current day low $1.18829.

In response to today’s data released, the EUR rose to a post-stat high $1.19039 before falling to a low $1.18931.

At the time of writing, the EUR was down by 0.14% to $1.18940.

Up Next

March inflation figures from the U.S. Expect plenty of interest in the numbers.