German economic sentiment data from the ZEW institute has dived over Greek worries
A quick preview for the latest ZEW numbers due from Germany at 9am gmt
The index has taken a step off a cliff recently falling from 54.8 in March to 31.5 in June
German ZEW
Greece has been touted as one of the main reasons but the lacklustre global growth picture has played its part also
Given the current situation in Greece and the climate in European growth overall, it's hard to see this number making any inroads into the recent drop. At the moment with this and other European data we're facing another dead cat bounce in European growth and sentiment
The euro has largely ignored the ZEW numbers while there's been bigger fish to fry but another steep drop may be enough to heap more pressure on an already soggy EURUSD
Should we get a decent bounce in from the figures then any jump in the euro is likely to be more fodder for the sellers
This one is probably not going to shake markets too much, unless there's a real messy number, and perhaps more focus should be placed on the follow up comments from the ZEW economists after
Ze Germans are often touted as Europe's growth engine but that engine is currently spluttering along like most of the rest of Europe