By Ed Frankl Germany's economic outlook improved unexpectedly in September on higher expectations of interest-rate pauses, coming days ahead of the next.
Euro and Sterling stumbled today as they responded to less than impressive economic indicators. Despite a slight uplift in German economic sentiment, the broader picture reflected deteriorating current situation, adding pressure on the common currency. Concurrently, the Pound exhibited a steeper reaction to the shrinking payroll employment coupled with the decelerated wage growth noted in August, accentuating the weak undercurrents plaguing the currency. Swiss Franc seemed to benefit, albeit modestly, from purchases made against its two European peers.
Germany's ZEW Economic Sentiment for September experienced an uptick, rising from -12.3 to -11.4, surpassing the anticipated drop to -15.0. However, not all was rosy for the nation, as Current Situation index witnessed a downturn, descending from -71.3 to -79.4, which was a more significant dip than forecasted 75.0.
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