New data from ZEW finds the picture is improving in the Eurozone this July. Economic sentiment has risen from 30.6 to 32.8, while economists had expected a rise to just 31.8.
In Germany, economic sentiment was weaker, falling from 38.5 to 36.3, despite a forecasted rise to 39.6. But the current situation was judged to have improved, rising from 8.6 to 10.6, beating expectations of a rise to 9.0.
$EURUSD slips 12 points on ZEW - not much of a reaction— Michael Hewson (@michaelhewson) July 16, 2013
Bad ZEW! But still nobody cares! because it's the ZEW— Paweł Morski (@Pawelmorski) July 16, 2013
"The ZEW doesn't count coz it's just a bunch of economists" - economists, every month, without fail— Katie Martin (@katie_martin_FX) July 16, 2013