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German ZEW business morale rebounds less-than expected in Aug

The German business morale bounced-back into the positive territory for August, following July’s sharp deterioration, a ZEW survey showed on Tuesday.

The headline ZEW economic sentiment came in stronger at 0.5 in August as compared to July’s -6.8 points, however, came in way below markets’ expectations of a 2.0 reading.

The current conditions sub-indicator came in at 57.6 points in August, rising from July’s 49.80 and beating forecasts of 50.2 points.

European Monetary Union ZEW Survey - Economic Sentiment came in at 4.6, above expectations (-6.3) in August

European Monetary Union ZEW Survey - Economic Sentiment came in at 4.6, above expectations (-6.3) in August
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EUR/USD deflates from highs post-ZEW, near 1.1260

After hitting daily highs in the 1.1280 area, EUR/USD has now receded to the 1.1260/55 band following mixed ZEW results. EUR/USD bid on USD-weakness
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