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German ZEW economic sentiment jumps to 11.5 – EUR/USD

Quite a  turnaround in German business sentiment: optimism seems to to back with the ZEW Economic Sentiment leaps up to 11.5 points. This is far better than expected and back to positive ground. The Current Situation figure is up 3.3 points,  and the all-European number is up to 11 points, both better than expected.

EUR/USD is climbing up nicely to 1.2530, extending the move above 1.25 that began before the publication. EUR/GBP is at a new high as well.

The accompanying comments are also positive: the German economy is stabilizing despite being fragile. Ongoing geopolitical tensions affect Germany.

A positive score reflects optimism while a negative one reflects pessimism. The bounce back up is the first one this year. We have seen  monthly declines since the beginning of the year.

The German ZEW Economic Sentiment was expected to score +0.9 points in November, up from the  negative score for October: -3.6 which was the first  pessimistic read in a long time. The current situation component was expected to slide from 3.2 to 1.8 points.

EUR/USD was flirting with 1.25 just before the  publication, off from the lows.

Here is the preview: trading the ZEW number with EUR/USD.

EURUSD jumps after strong German ZEW number business sentiment finally recovers

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.