Economic Sentiment in Germany rose unexpectedly, according to the latest May assessment. The corresponding ZEW indicator rose to -34.3 in May from -41.0 a month earlier against expectations of a dip to -43.0.
Germany, for which China is the main export market, is looking with concern at the lockdown in the second world economy
Meanwhile, current assessment of the economic situation continues to deteriorate, both under the influence of the situation in Ukraine and due to a slowdown in China. Germany, for which China is the main export market, is looking with concern at the lockdown in the second world economy and the resulting economic slowdown and falling demand for machinery and cars from Germany.
The positive surprise helps EURUSD stabilise near 1.0500
Despite the lapse in the current assessment, investors and traders are paying more attention to sentiment. The positive surprise helps EURUSD stabilise near 1.0500 and reinforces bulls' hopes that a straight road below parity is not yet a done deal.
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