German October ZEW economic sentiment reading is due at 0900GMT, here is a quick preview:
ZEW survey ‘current situation':
- expected is 15.0
- prior was 25.4
ZEW survey economic sentiment reading:
- expected is 0.0
- prior was 6.9
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Last week we got a lot of data showing a German slowdown in Q3, so this ZEW result will be one of the first releases of the sentiment in Germany going into Q4.
Check out those ‘expected’ numbers above …. and its hard to be optimistic. The economic sentiment reading is forecast to drop to zero (from 6.9 last month)
While the euro has been on a recovering bounce since last week, a weak reading today will not be a positive input for it. 1.2800 (and around there) is important resistance.
Stay tuned …
