Time | Country | Event | Period | Previous value | Forecast | Actual |
---|
06:00 | United Kingdom | Average earnings ex bonuses, 3 m/y | August | 6.8% | 6% | 6% |
06:00 | United Kingdom | Average Earnings, 3m/y | August | 8.3% | 7% | 7.2% |
06:00 | United Kingdom | ILO Unemployment Rate | August | 4.6% | 4.5% | 4.5% |
06:00 | United Kingdom | Claimant count | September | -58.6 | | -51.1 |
09:00 | Eurozone | ZEW Economic Sentiment | October | 31.1 | | 21.0 |
09:00 | Germany | ZEW Survey - Economic Sentiment | October | 26.5 | 24 | 22.3 |
EUR traded mixed against its major rivals in the European session on Tuesday as investors assessed data on economic sentiment from ZEW Institute for the eurozone and Germany, the region's biggest economy.
The single European currency rose against CHF, fell against NZD, AUD and CAD, and changed little against JPY, GBP and USD.
Economists from Germany's ZEW Institute reported that their indicator of economic sentiment for the euro area fell by 10.1 points to 21.0 October, its lowest level since March 2020, amid ongoing concerns over slowing growth amid persistent global supply-chain disruptions. Meanwhile, the indicator for the current economic situation in the eurozone went down 6.6 points to 15.9 and the inflation indicator decreased 3.0 points to 17.1.
The financial market experts’ sentiment concerning the economic development of Germany also worsened, bringing the corresponding ZEW’s indicator to 22.3 in October, 4.2 points down from the September reading of 26.5. This also was the lowest reading since March 2020 and below economists' forecast of 24.0. The report also showed that the indicator for the current economic situation in Germany declined 10.3 points to 21.6 in October. This marked the first time that the indicator had recorded a drop after its continuous increase between February and September 2021. ZEW’s economists noted that continued shortages of raw materials and intermediate goods worsened the domestic situation in the latest survey period.
Sentiment also was dented by comments of the EU Energy Commissioner, who said that gas prices would remain high through the winter.