German ZEW indices for February were released today at 10:00 am GMT. Both, economic sentiment and current conditions, indices showed decent beats. Economic sentiment index climbed to the highest level in almost a year. However, reaction of the market was fairly muted with EURUSD and German DE30 ticking slightly lower after the release.
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Economic sentiment: 28.1 vs 22.0 expected (16.9 previously)
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Current conditions: -45.1 vs -50.5 expected (-58.6 previously)
In a commentary, ZEW economists said that while a large fraction of survey participants expect economic situation to improve within next 6 months, current conditions are still seen as relatively unfabourable. ZEW noted that expectations for long-term rates are rising and indicators for the banking sector in the survey are at the highest level since 2004.
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DE30 at 1-hour interval. Source: xStation5
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