2025年8月，欧元区ZEW经济情绪指标较上月下降11点，至25.1，低于市场预期的28.1。8月份，约55.9%的受访分析师预计经济活动不会发生变化，34.6%的人预计经济活动会有所改善，9.5%的人预计会恶化。与此同时，当前经济形势指标下降7点至-31.2，通胀预期下降0.9点至-6.7。

The ZEW Indicator of Economic Sentiment for the Euro Area fell by 11 points from the prior month to 25.1 in August 2025, below market estimates of 28.1. In August, about 55.9% of the surveyed analysts expected no changes in economic activity, 34.6% predicted improvement and 9.5% anticipated a deterioration. In the meantime, the indicator of the current economic situation decreased by 7 points to -31.2 and inflation expectations went down by 0.9 points to -6.7.

欧洲股市周二走高，STOXX 50和STOXX 600指数均上涨近0.3%，从前一天的低迷时段反弹，交易员对美中贸易休战的延长表示欢迎。特朗普总统将暂停对中国商品征收高额关税的时间延长了90天，至11月10日，而中国宣布相应延长其暂停关税的时间。投资者还消化了欧洲主要经济数据，没有计划发布重大盈利报告。在英国，新的数据证实，劳动力市场继续降温，尽管工资增长仍然很高。在企业方面，施耐德电气、力拓和默克各上涨约1.3-1.4%，而法国巴黎银行上涨0.6%，至82欧元，为18年来的最高水平。相比之下，SAP股价下跌了近1%。

European stocks traded higher on Tuesday, with both the STOXX 50 and STOXX 600 up nearly 0.3%, rebounding from a lacklustre session the day before, as traders welcomed an extension of the US–China trade truce. President Trump prolonged the suspension of steep tariffs on Chinese goods for another 90 days, through November 10, while China announced a matching extension of its own tariff pause. Investors also digested key European economic data, with no major earnings reports scheduled. In the UK, fresh figures confirmed that the labour market continues to cool, although wage growth remains elevated. On the corporate front, Schneider Electric, Rio Tinto, and Merck each gained around 1.3–1.4%, while BNP Paribas rose 0.6% to €82 — its highest level in 18 years. In contrast, SAP shares fell almost 1%.

周二，欧洲股市有望开盘走高，这得益于美中停战协议再延长90天后全球贸易前景的改善，这给了谈判代表更多时间达成协议，并稳定了世界两大经济体之间的贸易关系。在地区数据方面，投资者将关注最新的英国劳动力市场数据和德国的经济情绪调查。今天没有计划公布欧洲的主要收益。盘前交易中，欧洲斯托克50指数期货上涨0.3%，斯托克600指数期货上涨0.2%。

European stocks were poised to open higher on Tuesday, supported by an improved global trade outlook after the US-China truce was extended for another 90 days, giving negotiators more time to reach a deal and stabilizing trade ties between the world’s two largest economies. In regional data, investors will focus on the latest UK labor market figures and Germany’s economic sentiment survey. No major European earnings are scheduled for release today. In premarket trade, Euro Stoxx 50 futures rose 0.3%, while Stoxx 600 futures added 0.2%.

由于交易员权衡经济、政治和货币前景，欧元在8月中旬徘徊在1.16美元左右，略低于上个月的2021年高点。人们的注意力转向了周五美国总统特朗普和俄罗斯总统普京之间的会晤，旨在找到解决乌克兰冲突的办法。据报道，乌克兰总统泽连斯基预计不会参加。在美国，对美联储即将降息的预期有所上升，特别是在就业数据疲软和ISM服务业PMI疲软之后。与此同时，欧洲央行在过去一年中八次降息后，于7月结束了当前的宽松周期，这使借贷成本降至2022年11月以来的最低水平。尽管如此，一些市场参与者认为欧洲央行有可能在年底前再次降息。在经济方面，欧元区第二季度GDP增长0.1%，而7月份通货膨胀率稳定在2%。然而，风险依然存在，因为欧盟对出口到美国的大多数欧洲商品征收15%的关税。

The euro hovered around $1.16 in mid-August, slightly below last month’s 2021 highs, as traders weighed economic, political, and monetary prospects. Attention is turning to Friday’s meeting between US President Trump and Russian President Putin, aimed at finding a resolution to the conflict in Ukraine. Ukrainian President Zelenskyy is reportedly not expected to participate. In the US, expectations for imminent Fed rate cuts have grown, particularly after weak payrolls data and a softer ISM Services PMI. Meanwhile, the ECB ended its current easing cycle in July after eight cuts over the past year, which brought borrowing costs to their lowest since November 2022. Still, some market participants see the possibility of another ECB cut before year-end. On the economic front, euro area GDP grew 0.1% in Q2, while inflation held steady at 2% in July. Risks persist, however, as the EU faces 15% tariffs on most European goods exported to the US.