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- Germany’s ZEW Economic Sentiment Index dropped to 10.3 in January.
- EUR/USD holds losses near 1.0350 after German and Eurozone ZEW surveys.
The headline German ZEW Economic Sentiment Index declined to 10.3 in January from 15.7 in December, missing the market consensus of 15.3.
The Current Situation Index improved to -90.4 in the same period, as against December’s -93.1 figure. Data beat the expected -93.1 reading.
The Eurozone ZEW Economic Sentiment Index arrived at 18 in January versus 17 in December. The market forecast was 16.9.
Key points
The second consecutive year of recession caused economic expectations in Germany to fall.
A lack of private household spending and subdued demand in the construction sector continue to stall the German economy.
If these trends continue in the current year, Germany will fall further behind the other countries of the Eurozone.
There is also greater political uncertainty, driven by coalition-building process in Germany and unpredictability of Trump economic policy.
Market reaction
The EUR/USD pair remains heavy after the mixed German and Eurozone ZEW surveys. The pair is losing 0.58% on the day to trade near 1.0350, at the press time.
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.61% | 0.63% | 0.23% | 0.77% | 0.67% | 0.76% | 0.47% | |
| EUR | -0.61% | 0.01% | -0.40% | 0.16% | 0.06% | 0.15% | -0.14% | |
| GBP | -0.63% | -0.01% | -0.46% | 0.15% | 0.05% | 0.13% | -0.17% | |
| JPY | -0.23% | 0.40% | 0.46% | 0.58% | 0.48% | 0.56% | 0.26% | |
| CAD | -0.77% | -0.16% | -0.15% | -0.58% | -0.10% | -0.01% | -0.31% | |
| AUD | -0.67% | -0.06% | -0.05% | -0.48% | 0.10% | 0.08% | -0.20% | |
| NZD | -0.76% | -0.15% | -0.13% | -0.56% | 0.01% | -0.08% | -0.31% | |
| CHF | -0.47% | 0.14% | 0.17% | -0.26% | 0.31% | 0.20% | 0.31% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
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