Forex Pros – German economic sentiment rose less-than-expected in February, data showed on Tuesday.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment rose to 15.7 in January, up from 15.4 in December.
Analysts had expected the index to rise to 20.2 in February.
On the index, a level above 0.0 indicates optimism; a level below 0.0 indicates pessimism.
Commenting on the report, ZEW President Wolfgang Franz said, “The almost unaltered level of the indicator suggests that financial market experts have remained confident about the recovery of the German economy.”
The report also showed that economic sentiment in the euro zone rose less-than-expected in February, climbing to 29.5, after rising to 25.4 in January.
Analysts had expected euro zone economic sentiment to rise to 31.3 in February.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.28% to hit 1.3528.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 jumped 0.48%, France’s CAC 40 climbed 0.37%, Germany’s DAX gained 0.18%, while the FTSE 100 eased up 0.05%.
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