German economic sentiment remains positive, but hardly so. The figure beat expectations by sliding only to 6.9 points instead of 5.2 expected. However, the current situation component printed a big disappointment by falling from 44.3 to 25.4 points. The all European number also came out worse than expected: only 14.2 points.
EUR/USD ticks marginally lower.
The German ZEW economic sentiment was expected to slide to 5.2 points in September from 8.6 in August, continuing the slide that began early in the year.
This is the 9th consecutive month of falls for this important indicator. The German economy contracted in Q2 by 0.2%.
EUR/USD was trading well within the range, at 1.2940.
The Current Situation component was predicted to slide from 44.3 to 40 points. The all-European figure carried predictions for a slide from 23.7 to 21.3 points.
Here is the preview: EUR/USD: Trading The German ZEW Economic Sentiment
Since Draghi announced his wide measures sending EUR/USD lower, the pair managed to stabilize around current levels.
While there are a few US events scheduled today, the really big event is the Fed decision tomorrow. The Fed is expected to taper bond buys for the 7th time before QE ends and may hint about the first rate hike.
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