FX : German ZEW Economic Expectations growth, weaker than expected; Euro dips to day low
FXstreet.com (Barcelona) - German Economic Expectations Index has risen to 57.7 in September, higher than the 56.1 reading seen in August, although lower than the 59.0 reading forecasted by the analysts. The assessment of the current economic conditions has improved to a level of -74 in September from -77.2 in August.
Zew data shows that economic conditions are improving in Germany and the country continues coming out of the economic recession, although recovery seems to be advancing at a slower than expected pace.
The Euro has weakened immediately after the release of ZEW data, and, from levels around 1.4610, the pair has dipped to intra-day low at 1.4580.
