German ZEW economic sentiment rebounds to 3.1 in April, a big beat

The German ZEW headline numbers for April showed that the economic sentiment index jumped to 3.1 versus 0.8 expectations and -3.6 last. While the sub-index current conditions figure declined sharply to 5.5 versus 8.0 expected and 11.1 booked previously, missing market expectations.

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).