Latest data released by ZEW - 17 March 2020
- Prior -15.7
- Expectations -49.5 vs -30.0 expected
- Prior 8.7
- Eurozone expectations -49.5
- Prior 10.4
Slight delay in the release by the source. That is the lowest headline reading since March 2010, with expectations also blown out of the water amid fears surrounding the economic fallout due to the coronavirus outbreak.
This is one of the more up-to-date readings of economic sentiment so this shows how much of a pessimistic toll that the virus fallout is having on investor sentiment.
ZEW notes that the economy is on "red alert" and that financial market experts are currently expecting a decline in real GDP in Q1 with a further drop in Q2 being very likely.
EUR/USD is easing a little more to fresh session lows of 1.1090 currently.