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Mixed Economic Sentiment figures

Tuesday, Mar 17 2015
In March 2015, the ZEW Indicator of Economic Sentiment for Germany has increased for the fifth consecutive time. Compared to the previous month the indicator has gained 1.8 points to a reading of 54.8, however, this was below expectations on a reading of 58.9. ZEW’s Indicator of Economic Sentiment for the Eurozone has increased by 9.7 points to a reading of 62.4 points, beating forecasts on an incline to 58.2.
 
This is the indicator’s highest value since February 2014.  “Economic sentiment in Germany remains at a high level. In particular  the continuing positive development of the domestic economy confirms the expectations of the experts. At the same time, limited progress is being made with regard to solving the Ukraine conflict and the sovereign debt crisis in Greece. This has March 17, 2015 a dampening effect on sentiment,” says ZEW President Professor Clemens Fuest. 
 
Euro is currently being traded around 1.06 handle. Pair is likely to find support around 1.0650 and resistance above 1.0550 level. Later today, in the US session, Building Permits and Housing Starts data is scheduled for a release.
More in this category: « Aussie lower after RBA Meeting Minutes Building Permits data in line with market forecasts »

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