Recalling FX Leaders Morning Bref, Feb 19, ZEW was supposed to release Economic sentiment figures. It’s a leading indicator of economic health – investors and analysts are highly informed by virtue of their jobs, and changes in their sentiment can be an early signal of future economic activity.

About 300 German institutional investors and analysts go through a survey and rate the relative 6-month economic outlook for Germany and Eurozone. Here are the results:

• German ZEW Economic Sentiment – Surged to -13.4 vs. -15.0.
• ZEW Economic Sentiment – Jumped to -16.6 vs. -20.9

The single currency Euro remained mostly unchanged on the release of this data. It continues to trade above $1.1295 support. The bearish breakout can lead it towards $1.12500.