German ZEW current conditions unexpectedly improved to 76.0 in August

The German ZEW headline numbers for August showed that the economic sentiment numbers dropped to -10.6 versus -14.0 expectations and -13.7 last. While the sub-index current conditions figure rose to 76.0 versus 72.0 expected and 72.6 booked previously, surprising markets to the upside.

About German ZEW

These numbers are derived via a survey of about 300 German institutional investors and analysts, conducted by the Zentrum für Europäische Wirtschaftsforschung (ZEW), which asks respondents to rate the relative 6-month economic outlook for Germany. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).