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11 Sep 2015
ZEW Survey on the spotlight next week – TDS
FXStreet (Edinburgh) - Strategists at TD Securities have noted the relevance of the ZEW Survey in Germany and the euro area.
Key Quotes
“The ZEW business sentiment confidence indicator should give us some early insight into how investors are connecting the past few weeks’ volatility in markets to their levels of real activity”.
“On the current situation measure, we expect some pull-back in September, from 65.7 in August to 62.8 in September, putting us slightly weaker than the consensus call of 64.0”.
“On the expectations front, we expect the reading to continue trending down, falling from 25.0 in August to 22.3 in September, and a stronger reading than market consensus, which is calling for a sharper drop to 19.0”.
“We would caution about reading too much into the consensus numbers for ZEW, however, as the forecasts are widely dispersed. The only consistent message coming out of other forecasts is that both the current and expectations prints should both decline”.
Key Quotes
“The ZEW business sentiment confidence indicator should give us some early insight into how investors are connecting the past few weeks’ volatility in markets to their levels of real activity”.
“On the current situation measure, we expect some pull-back in September, from 65.7 in August to 62.8 in September, putting us slightly weaker than the consensus call of 64.0”.
“On the expectations front, we expect the reading to continue trending down, falling from 25.0 in August to 22.3 in September, and a stronger reading than market consensus, which is calling for a sharper drop to 19.0”.
“We would caution about reading too much into the consensus numbers for ZEW, however, as the forecasts are widely dispersed. The only consistent message coming out of other forecasts is that both the current and expectations prints should both decline”.