German ZEW Economic Sentiment Index drops sharply to 40.4 in Aug, EUR/USD tests lows

• German ZEW Economic Sentiment arrived at 40.4 in August, down from 63.3 previous.
• The ZEW Current Situation for Germany came in at 29.3 in August vs. 21.9 in July.
• EUR/USD flirts with four-month lows near 1.1725 on downbeat ZEW data.

The German ZEW headline numbers for August showed that the Economic Sentiment Index dropped more than expected to 40.4 from 63.3 previous while missing estimates of 56.7.

more to come ...