German ZEW data suggests weakness in investor sentiment

The German ZEW survey data released today implied that investor sentiment in German economic outlook has now softened to its lowest level since the midst of the euro crisis in early 2012, with the headline investor expectations index dropping for the fourth time in the last five months and to -16.1, hinting that the number of pessimists clearly outweighs the number of optimists.

The index of current German conditions also dropped to the lowest in over one year. The flash PMIs for June, which are due next week, and the Ifo survey due next week too, will show whether the increased negativity has extended to German manufacturers and service-sector firms too, stated Daiwa Capital Market Research in a report.

At 20:00 GMT the FxWirePro's Hourly Strength Index of Euro was neutral at 22.6548, while the FxWirePro's Hourly Strength Index of US Dollar was highly bullish at 102.013. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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