- Prior -3.6
- Current conditions 3.3 vs 1.8 exp. Prior 3.2
A decent bounce from the ZEW and EUR/USD bolts up to 1.2534 but was well on the way through 1.2500 before the numbers hit. I wonder why?
ZEW’s Fuest says;
- German economy is stabilising
- Economic environment remains fragile
- Ongoing geopolitical tensions affect Germany
Everyone loves the euro today. EUR/JPY touches 146.70, EUR/GBP through 0.8000, EUR/USD touches a high of 1.2540 before falling back to 1.2521
German ZEW index 18 11 2014
More from Fuest;
- Economy is cooling but there is not a major downturn
- Stabilisation mostly driven by Q3 GDP numbers
- Seems to be some stabilisation in German economy, very hard to predict growth in coming months
