Yet another disappointing read from ZEW, and certainly not for the first time: economic sentiment fell to 25 points in August. The silver lining is that the current conditions component edged up to 65.7 points. The all European figure also beat expectations with a rise to 47.6.
EUR/USD is stable, holding on to 1.10 without problems.
The German ZEW economic sentiment was expected to bounce back to 32 points in August after 29.7 in July. The current conditions component carried expectations for a rise to 64.3 points from 63.9 beforehand. The all European number carried expectations for 43.9 points after 42.7 points in July.
News about a deal between Greece and its creditors sent EUR/USD higher towards the publication.
Later today we have unit labor costs from the US as the main event on the US calendar before more important figures tomorrow.
More: Here Is Why Now’s A Good Time To Buy USD Tactically – EUR/USD to parity – Goldman
