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German Zew Economic Sentiment drops in April

FXStreet (Mumbai) - The German Zew economic sentiment index for April came-in at 53.3, missing the estimate of 55.5, and down from 54.8 in March.

The current situation index rose to 70.2 in April, beating the estimate of 56.00, and up from 55.1 in March. Meanwhile, The Eurozone economic sentiment index also beat the expectation of 63.7 to print at 64.8 in April.

The ZEW institute said the German economy is in a good shape, courtesy of stable labor market and rising wages leading to strengthening confidence and a rise in consumption. The institute blamed the world economy for dampening exports.

EUR/USD muted on ZEW

The common currency kept the composure following the release of the ZEW Survey, with EUR/USD hovering over the 1.0670 area...
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EUR/GBP testing lows near 0.7175 on German data

The shared currency continued to underperform against the British pound in the European session; pushing EUR/GBP near fresh session lows, as markets continue to relentlessly sell euro after a big miss on the German economic sentiment numbers which disappointed markets.
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