Latest data released by ZEW – 14 May 2019
- Prior 5.5
- Expectations -2.1 vs 5.0 expected
- Prior 3.1
- Eurozone expectations -1.6
- Prior 4.5
Slight delay in the release by the source. Despite a rise in the assessment for current conditions, the outlook dipping back into negative territory signals that there is still much to be worried about. ZEW notes that the most recent escalation in US-China trade tensions has increased uncertainty regarding German exports again.
That and likely US auto tariffs to come will continue to heap pressure on the German economy and its outlook in the coming months. EUR/USD continues to hold steady around 1.1238 currently while EUR/GBP sits higher at 0.8683 on the day.