ZEW (latest release)

Measures Level of a diffusion index based on surveyed German institutional investors and analysts;

Usual Effect Actual > Forecast = Good for currency;

Frequency Released monthly, on the second or third Tuesday of the current month;

Above 0.0 indicates optimism, below indicates pessimism;

Why Traders Care It’s a leading indicator of economic health – investors and analysts are highly informed by virtue of their job, and changes in their sentiment can be an early signal of future economic activity;

Derived Via Survey of about 350 German institutional investors and analysts which asks respondents to rate the relative 6-month economic outlook for Germany;