Markets looking for fairly large fall in German ZEW survey - TDS

Research Team at TDS, suggests that markets are looking for fairly large falls in today’s German ZEW survey, but we’re a bit more optimistic.

Key Quotes

“While we do see downside in the PMI surveys later this week, the ZEW tends to correlate better with European financial markets, and there we’ve seen a strong recovery from the post-Brexit lows. We look for current conditions to fall from 54.5 to 53.5 (mkt 51.8) and for expectations to fall from 19.2 to 14.2 (mkt 9.0).”