German ZEW Economic Sentiment rose to 53.0 in February

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Tuesday, Feb 17 2015

Gaining 4.6 points compared to the previous month, the ZEW Indicator of Economic Sentiment for Germany stands at 53.0 points in February 2015. Analysts were anticipating increase to 55.4 points. Reaching its highest value since February of 2014, the indicator has increased for the fourth consecutive time.

"Quantitative easing by the European Central Bank and unexpectedly high economic growth in the fourth quarter of 2014 have improved sentiment among financial market experts. On the other hand, the intensification of the Ukraine crisis and the collision course of the new Greek government are dampening expectations," says ZEW President Professor Clemens Fuest.

Sentiment for the Eurozone has increased by 7.5 points to a reading of 52.7 points, above expected incline to 51.3. Gaining 8.7 points in February 2015, the indicator for the current situation in the euro area has reached a value of minus 48.4 points.

Euro edged higher after figures were released and is currently being traded above 1.1480 level. Pair is likely to find support around 1.1350 and resistance above 1.1430 level. Later today, Empire State Manufacturing Index figures are scheduled for a release.

More in this category: « UK CPI at the record low Empire State Manufacturing Index fell to 7.8 »

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