Latest data released by ZEW - 11 August 2020
- Prior -80.9
- Expectations 71.5 vs 55.8 expected
- Prior 59.3
Slight delay in the release by the source. The headline reading pretty much underscores the fact that the economic recovery is largely tepid and not really growing at the pace most optimists would've hoped over the past few months.
Despite another jump in the expectations component, it is once again perhaps a case of survey respondents hoping for the better but the underlying economic situation is failing to live up to that perception in the second-half of the year.
In other words, another economic sentiment survey, another tick for poorer recovery conditions, yet another tick for a growing chorus of a better recovery ahead. For how long can that economic distortion keep up?
ZEW says that hopes of a speedy economic recovery continue to grow and experts expect to see a general recovery, especially in the domestic sector, but the assessment of the current situation is only improving rather slowly.
EUR/USD is up to session highs currently, trading at 1.1784 as the dollar keeps weaker on the session now with cable also up close to the 1.3100 handle.
