ZEW Economic Sentiment rose both for Eurozone and Germany

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Tuesday, Dec 15 2015

The ZEW Indicator of Economic Sentiment for Germany has increased for the second consecutive time in December 2015. Gaining 5.7 points compared to the previous month, the index now stands at 16.1 points (long-term average: 24.7 points). Smaller increase to 15.2 was expected.

"While the large influx of refugees is above all a major December 15, 2015 challenge facing policy-makers and civil society in Germany, the economic slowdown in emerging markets is exerting pressure on the German export industry. Overall, however, confidence is growing that the German economy is sufficiently robust to meet these challenges in the coming year," says ZEW President Professor Clemens Fuest.

Financial market experts’ sentiment concerning the economic development of the Eurozone has improved. ZEW’s Indicator of Economic Sentiment for the Eurozone has increased by 5.6 points to a reading of 33.9 points. Gaining 0.4 points in December 2015, the indicator for the current situation in the euro area has climbed to a value of minus 9.6 points.

Euro is currently being traded around 1.1020 area. Pair is likely to find support around 1.0950 handle and resistance above 1.1050 level. Later today, in the US session, CPI and Empire State Manufacturing Index figures are scheduled for a release.

More in this category: « UK CPI increased in line with market forecasts US CPI unchanged in November »

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