German ZEW Economic Sentiment Index improves to 54.3 in February, misses estimates
- German ZEW Economic Sentiment arrived at 54.3 in February, up from 51.7 previous.
- The ZEW Current Situation for Germany came in at -8.1 in February vs -10.2 in January.
- EUR/USD holds higher ground near 1.1350 on mixed German and Eurozone data.
The German ZEW headline numbers for February showed that the Economic Sentiment Index jumped again, registering 54.3 from 51.7 previous while missing estimates of 55.0.
Meanwhile, the Current Conditions sub-index slowed its pace of decline to -8.1 in February as against -10.2 recorded in the previous month and -6.0 expectations.
The Eurozone ZEW Economic Sentiment rose to 48.6 for the current month as compared to the 49.4 previous reading.
Separately, the second estimate of the bloc’s Q4 Gross Domestic Product (GDP) came in at 0.3% QoQ vs. 0.3% expected and 0.3% previous.
The Eurozone Employment Change for Q4 arrived at 0.5% QoQ vs. 0.4% expected and 0.9% prior.
FX market reaction
The euro remains unfazed by the mixed ZEW Surveys and Eurozone data. EUR/USD was last seen trading at 1.1350, up 0.42% on the day.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
