German ZEW economic sentiments came in 3.6 vs 17 exp. and 19.4 previously

  • Current conditions: -84 vs -80 exp. and -77.3 previously
  • Expectations: 9.3 vs 17.9 previously

EURUSD drops after a huge miss in ZEW sentiment data signalling further weakening and downside risks across the German economy, where structural problems will persist despite ECB rate cuts. Much weaker sentiments may point to recessionary and even deflationary impulses in the biggest, European economy. 

Source: xStation5

Source: ZEW Zentrum, XTB Research, Macrobond