The parentheses are just read "as such". Note, though, that when reading things aloud, it is sometimes hard to get verbalize the details of the statements.
So $$(\forall x\in Z)(\exists y\in Z) x<y$$ would (could be) read
For all $x$ in $Z$ there exists a $y$ in $Z$ such that $x$ is less than $y$.
Note that when you have more complicated expressions, reading things out becomes more difficult. If you for example have $(x+y)z$, then this is $x$ plus $y$ times $z$. The problem is that it isn't clear that there are parentheses around the sum. In this case you could maybe say: $z$ times the sum of $x$ and $y$. In other words, you sometimes have to be a bit "creative".