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More bumps as the German ZEW drops again
As this week is relatively light on macro data in Germany and the entire Eurozone, it was obvious that the German ZEW index would get some special attention. With another disastrous outcome, the attention will be even higher. The verdict on today’s ZEW index is to watch out! The index, which measures investors’ confidence, dropped to -8.2 in April, from 5.1 in March. Within two months, the ZEW has dropped by 26 index points; the sharpest drop since mid-2016. At the same time, however, the current assessment component still brings some comfort as it “only” decreased to 87.9 in April, from 90.7 in March; still ... (full story)