The market sentiment is mixed. Let’s look at most interesting movements on the market today.
In September German ZEW economic sentiment rises more than expected
In September, German economic sentiment went up much more than expected spurring optimism as for the cornerstone of the euro zone economy, as industry data disclosed on Tuesday.
The ZEW Centre for Economic Research informed that its index of German economic sentiment went up to 17.0 in September from August’s outcome of 10.0. Financial experts had expected the index to tack on to 12.5 in September.
By the way, on the index, an outcome above 0.0 stands for optimism, while a level below 0.0 drops a hint at pessimism.
This month the Current Conditions Index suddenly leapt to 87.9 from 86.7 in August versus expectations for a moderate dip to 86.6.
In September, the index of euro zone economic sentiment inched up to 31.7 from 29.3 last month.
After the report, the currency pair EUR/USD showed 1.1985 versus the previous outcome of 1.1981 ahead of the publication of the data. As for EUR/GBP, it leapt 0.8889 from 0.8884.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.