Centre for European Economic Research’s (ZEW) German economic sentiment index improved to -41.1 in September following Augusts stronger than expected rebound to -55.5. General expectations had been for an improvement to the -53.0 area, so this reading makes pleasant reading. The improvement comes against the backdrop of declining oil prices. EUR/USD rallied in the initial wake of the release, but there has been no real followthrough. EUR/USD sits at 1.4245 at writing.