German ZEW Economic Sentiment Index substantially improves to -1.1 in October vs. -9 expected

• Germany’s ZEW Economic Sentiment Index improved to -1.1 in October.
• EUR/USD is keeping the red near 1.0550 after the upbeat ZEW surveys.

The German ZEW headline number showed that the Economic Sentiment Index improved sharply in October, arriving at -1.1  from -11.4 in September while beating the market expectation of -9.

However, the Current Situation Index edged a tad higher to -79.9 from -79.4 prior, beating estimates of -80.5.

During the same period, the Eurozone ZEW Economic Sentiment Index rose to 2.3 from -8.9 recorded in September. The market consensus was for a reading of -8.