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Eurozone and German ZEW Economic Sentiments Data

Eurozone's ZEW Economic Sentiment index rose to 61.2, which was slightly lower than March's 61.5 reading, but did beat forecast around 60.7. This is the 3rd month of decline in this reading.

Trader's seem to be more focused on the German reading. After all, some would argue that the Eurozone is essentially an extension of the German economy the way it is integrated. 

Germany's reading fell to 43.2 from 46.6, and missed forecast of around 46.3. This is the 4th month of decline.

(source: forexfactory.com)

The euro slid. EUR/USD fell to 1.3790 before holding above 50% retracement of last week's rally. EUR/GBP remains pressured, and is threatening the 0.8250 handle, with 0.82 in sight if cleared. For the EUR/GBP, the dominant force is not the ZEW economic sentiment data, but rather the UK CPI data, which slid to the lowest in over 4 years.