The ZEW Economic Sentiment Index in Germany fell to 63.3 in July from 79.8 the previous month.
In July, the ZEW Current Situation for Germany was 21.9, up from -9.1 in June.
On mixed German and Eurozone statistics, the EUR/USD remains under pressure below 1.1850.
The Economic Sentiment Index in Germany fell more than predicted in July, falling to 63.3 from 79.8 the previous month, missing predictions of 75.2.
Meanwhile, the Current Conditions sub-index rebounded to 21.9 in July, compared to -9.1 the month before and 5.0 expectations.
Separately, the Eurozone ZEW Economic Sentiment for July dipped to 61.2, down from 81.3 the previous month and the consensus prediction of 84.4.
Achim Wambach, President of the ZEW, stated, “The economy is gradually returning to normalcy. Germany’s situation indicator has definitely recovered from the effects of the coronavirus. Despite the fact that the ZEW gauge of economic sentiment has dropped dramatically, it remains at a very high level.”
Wambach continued, “Financial market specialists predict the general economic situation to be very optimistic in the coming six months.”
The bloc’s Retail Sales were also on the agenda, coming in at 4.6 percent MoM and 9 percent YoY, versus 4.4 percent and 8.2 percent predicted, respectively.
In the face of rising US dollar demand, the euro exhibited little to no reaction to the mixed data dump, as EUR/USD flirted with day lows of 1.1842. Prior to the European open, the spot reached a multi-day high of 1.1.1875./n
