- lowest level since Dec 2012
- 27.1 prev
- current conditions 44.3 vs 55.5 exp vs 61.8
EURUSD 1.3346 on the weaker than expected reading. Bunds up to day’s highs/DAX down to session lows
Surely no surprise to anyone given weaker data out of Germany, recent references to geo-political concerns and this morning’s heads-up from the German economic ministry
ZEW says:
- decline is likely connected to ongoing geo-political tensions
- industrial production and incoming orders suggested markedly reduced investment activities by German firms
