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German ZEW Economic Sentiment at 53 – slightly below

German  economic sentiment advances, but slightly less than expected: 53 points in  February. The current situation component beat expectations by jumping to 45.5 points. The all European number rose to 52.7 points.

EUR/USD is marginally lower, but not going too far. This is a small miss and the figure is still higher.

At the same time, Greece published inflation numbers: they showed a fall of 2.8% in prices, worse than expected. There is a stark example of the divide in the continent.

German ZEW Economic Sentiment was expected to enjoy a fourth  consecutive month of gains in February, rising from 48.4 points in January to 55.4 now (preview here). The current situation component carried expectations for an advance to 30 points. The all-European number was  predicted to advance from 45.2 to 51.3 points.

EUR/USD traded at around 1.1380 towards the publication, rising from the lows.

The German economy is doing well, as we’ve  recently learned from the strong growth numbers. The export-oriented economy enjoys the weaker euro.

The ongoing Greek crisis dominates the news, with  negotiations continuing in Brussels. Yesterday, talks reached an impasse and EUR/USD fell to lower ground. The ministers remain in Brussels.

In the US, the focus is on the FOMC meeting minutes tomorrow.

More:  EUR Bear Market In The Waiting; Sell Rallies – Morgan Stanley.

In our latest podcast we feature an interview  with Dan Blystone and update on Greece

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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.