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Economic Sentiment continues to improve

Tuesday, Nov 15 2016
Economic Sentiment continues to improve

The ZEW Indicator of Economic Sentiment for Germany has increased substantially in November 2016. The index has improved by 7.6 points compared to October, now standing at 13.8 points (long-term average: 24.0 points). "The ZEW Indicator of Economic Sentiment has increased the fourth time in a row – not least due to the positive economic figures seen in the US and China. The renewed increase is indicative of a stronger economic growth in the coming six months. The election of Donald Trump as US President and the resulting political and economic uncertainties, however, have made an impact. After the election, the economic sentiment has been less positive than before," comments ZEW President Professor Achim Wambach.

The assessment of the current situation in Germany has slightly decreased. Falling by 0.7 points, the index now stands at 58.8 points. Financial market experts’ sentiment concerning the economic development of the eurozone has slightly improved, with the respective indicator increasing by 3.5 points to a reading of 15.8 points. The indicator for the current economic situation in the eurozone also climbed 3.5 points to a level of minus 9.3 points in November 2016.

 

Euro is currently being traded around 1.08 handle. Pair is likely to find support around 1.07 area and resistance above 1.0850 level.

More in this category: « UK CPI increased by 0.9%, less than expected US Retail Sales jumped by 0.8% »

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