Release Explanation: A survey of the sentiment of the public regarding current and future economic conditions. The release builds an economic picture of the mood of the economy’s.
Trade Desk Thoughts: The consumer climate in Germany for the month of April 2009 fell unexpectedly. In the same time, the previous read, for March, was revised slightly lower, to 2.5. German consumers face difficult times ahead, as uncertainty regarding the economic future mounts. However, respondents are starting to see smaller worries from the inflationary pressures that until recently, threatened to cut consumption.
Forex Technical Reaction: The euro had a weak reaction to the news release. The pair is now trading around the Asian open price, after it tested the high of the last day of trading earlier.