Mubasher: Sentiment among German investors brightened in September, but the outlook for Europe’s biggest economy remained gloomy with ongoing trade feuds and Brexit uncertainty, according to survey data released on Tuesday.

The indicator for economic sentiment for Germany climbed to -22.5 points in September, from -44.1 in August, the Centre for European Economic Research (ZEW) said.

Meanwhile, analysts polled by Reuters expected a meagre gain with an estimate of -37 points.

That said, “the rather strong fears that financial experts had in the previous month regarding a further intensification of the trade conflict between the US and China did not come true,” ZEW president Achim Wambach said.

Furthermore, the separate gauge measuring investors’ assessment of the current conditions in the German economy fell to -19.9 points in September from -13.5 points in the prior month.

This marked the lowest reading since May 2010, ZEW said.

On a side note, the index for the current economic conditions for the broader Eurozone slipped slightly to -15.6 points in September.

“The European Central Bank is attempting to reduce the economic risks in the eurozone by further easing its monetary policy,” Wambach said.

By 9:41 am GMT, the EUR/USD pair went up by 0.12% to $1.1014.