Germany's ZEW Economic Sentiment Index for July rose to 52.7, surpassing both the estimated 50.4 and the previous month's 47.5, marking the highest level since February 2022. The Current Conditions Index also improved significantly, reaching -59.5 compared to the forecasted -66.0 and the prior -72.0. This indicates an unexpected rise in investor confidence and a better assessment of the current economic situation in Germany. However, the survey was conducted before the announcement of a 30% tariff imposed by the United States on imports from the European Union and Mexico, which may impact future sentiment. Despite the tariff announcement, risk appetite remained stable at the time of the report.