Source: ForexYard
Today’s ZEW reports on Germany and the broader euro zone’s economic confidence revealed plummeting numbers this month. Both figures were forecast to show mildly worsening data, though not nearly as deep as the actual figures came.
The German report, which tends to have a sharper impact than the broader reading, revealed a moderate downturn from last month’s reading of negative 43.3 to negative 48.3. The broader report, however, revealed a deeper decline, pushing to a negative 51.2. Both reports imply an impending decline in EUR values.
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