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German ZEW Economic Sentiment unchanged in December

Tuesday, Dec 13 2016
German ZEW Economic Sentiment unchanged in December

The ZEW Indicator of Economic Sentiment for Germany has remained unchanged at a level of 13.8 points (long-term average: 24.0 points) in December 2016. "The ZEW Indicator of Economic Sentiment remains at the same level; however, given the fact that the evaluation of the current situation has once again recorded an improvement, the overall assessment is quite positive. This is supported by the recently published positive GDP growth figures for the euro area in the third quarter. The considerable economic risks arising from the tense situation in the Italian banking sector, as well as the political risks surrounding upcoming elections in Europe, seem to have faded into the background at the moment," comments ZEW President Professor Achim Wambach.

As already mentioned, the current economic situation in Germany has improved significantly. Growing by 4.7 points, the index now stands at 63.5 points. Financial market experts’ sentiment concerning the economic development of the eurozone has marginally improved, with the respective indicator increasing by 2.3 points to a reading of 18.1 points. The indicator for the current economic situation in the eurozone climbed one point to a level of minus 8.3 points in December 2016.

 

Euro is currently being traded around 1.0620 handle. Pair is likely to find support around 1.0550 area and resistance above 1.07 level.

More in this category: « UK CPI up more than expected UK Unemployment Rate stable at 4.8% »

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