German ZEW Economic Sentiment Index rebounds to 16.9 in January vs. -15.5 expected
- Economic sentiment in Germany and the Eurozone unexpectedly turned positive in January.
- EUR/USD remains unimpressed by the upbeat ZEW surveys, keeping its range around 1.0815.
The German ZEW headline numbers showed that the Economic Sentiment Index returned to positive territory, arriving at 16.9 in January from -23.3 in December, beating the market expectation of -15.5.
Meanwhile, the Current Situation Index came in at -58.6 from -61.4 but missed the market expectation of -57.0
In the same period, the ZEW Economic Sentiment Index for the Eurozone rose to 16.7 from -23.6.
Market reaction
The EUR/USD pair is uninspired by the upbeat data, keeping its range near 1.0815, modestly flat 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.
