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German ZEW Economic Sentiment falls to 25 points

Yet another disappointing read from ZEW, and certainly not for the first time: economic sentiment fell to 25 points in August. The silver lining is that the current conditions component edged up to 65.7 points. The all European figure also beat expectations with a rise to 47.6.

EUR/USD is stable, holding on to 1.10 without problems.

The German ZEW economic sentiment was expected to bounce back  to 32 points in  August after 29.7 in July. The current conditions component carried expectations for a  rise to 64.3 points from 63.9 beforehand.  The all European number carried  expectations for  43.9 points after 42.7 points  in July.

News about a deal between Greece and its creditors sent EUR/USD higher towards the publication.

Later today we have unit labor costs from the US as the main event on the US calendar before more important figures  tomorrow.

More:  Here Is Why Now’s A Good Time To Buy USD Tactically – EUR/USD to parity – Goldman

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.