German ZEW Economic Sentiment Index rises to 52.7 in July vs. 50 expected

• Germany’s ZEW Economic Sentiment Index climbs to 52.7 in July.
• EUR/USD holds gains just below 1.1700 after German and Eurozone ZEW surveys.

The headline German ZEW Economic Sentiment Index jumped to 52.7 in July from 47.5 in June, beating the market expectations of 50.

The Current Situation Index improved to -59.5 in the same period, as against the June reading of -72. The market forecast was for -65.5 reading.

The Eurozone ZEW Economic Sentiment Index came in at 36.1 in July from 35.3 in June. Data missed the estimated print of 37.8.