As market expected, the zew came in stronger. The current situation however deteriorated further to 10 from 12.6.
Zew institute points out that the risk of the German economy is easing which was mainly due to a more stable financial market.
The eurusd spikes up when the number came out and is now back below 1.3000 again. I guess market bought on the rumour of a better number and sold the fact.
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