German investor confidence plunges

The German ZEW survey of investor confidence has slumped to 33.1 in May from 43.2 in April and missed consensus of 41.

However, the current situation print rose to 62.1 from 59.5 and exceeded forecasts of 60.5.

Sentiment for the eurozone plunged to 55.2 from 61.2 and fell short of forecasts of 63.5.

The fall in the outlook for Germany "should be seen against the backdrop of a strong economic development in the first quarter," says ZEW President Clemens Fuest. "Already, there are indications that Germany will not be able to maintain this fast pace of growth," although the underlying trend should stay positive.

The euro takes a dive and is -0.1% at $1.3745, while the DAX is +0.5%. (PR)


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Comments (6)
  • andrewtoney
    , contributor
    Comments (100) | Send Message
    Dismal data from Germany economic sentiment(so called Zew Index).Ecb on June 5th has to draw 'the bazooka'on.
    13 May 2014, 05:26 AM Reply Like
  • cfetrader
    , contributor
    Comments (1225) | Send Message
    Beautiful a-b-c rising wave pattern for DAX futures since mid-April 2015 (almost of a textbook perfection). The resistance of 9630 was conquered and now remains the truly major resistance of 9800. I consider this one a very difficult task for the bulls. My European bear friends placing some shorts at these levels would be advisable.
    13 May 2014, 05:50 AM Reply Like
  • Tack
    , contributor
    Comments (16551) | Send Message
    Worry, doubt and angst. The perfect ingredients for further positive market moves.
    13 May 2014, 06:50 AM Reply Like
  • peredina
    , contributor
    Comments (40) | Send Message
    Doubt and angst of ECB.
    13 May 2014, 07:06 AM Reply Like
  • jhooper
    , contributor
    Comments (8248) | Send Message
    Maybe we are just being conditioned for the ECB to engage in QE in June.
    13 May 2014, 08:59 AM Reply Like
  • Deda GAM
    , contributor
    Comments (13) | Send Message
    if china is a shift towards consumption, then im in ewl and ewg. If ECB wants to weaken the euro, then im in ewl and ewg
    13 May 2014, 01:39 PM Reply Like
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