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: German consumer climate remained steady for the month of May 2009. In the same time, the previous read, for April, was revised slightly higher, 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,” Trade Team noted.

Forex Technical Reaction:
The euro had a weak reaction to the news release. The pair is trading just above TheLFB S1 (1.3135), after it lost 90 pips since the Sunday session started.