Latest data released by ZEW - 17 September 2019

  • Prior -13.5
  • Expectations -22.5 vs -38.0 expected
  • Prior -44.1
  • Eurozone expectations -22.4
  • Prior -43.6

Slight delay in the release by the source. The headline reading slumps further and remains at its weakest level since May 2010 but there is some mild improvement in the outlook/expectations, though ZEW is quick to shut down any optimism:

"Rather strong fears in the previous month regarding a further intensification of the US-China trade conflict did not come true and there is still hope that a no-deal Brexit can be avoided. However, the rise of the indicator of economic sentiment is by no means an all-clear concerning the development of the German economy in the next six months. The outlook remains negative."

EUR/USD continues to hold just above the 1.1000 handle after briefly visiting a low of 1.0990 earlier in the session, as near-term price action remains anchored around the figure level.