Way stronger than Reuters’ median forecast of 12.0. Up huge from Decembers’ 6.9. Highest read since May 2010.
EUR/USD extends recovery, presently back at 1.3325.
- Economic perspectives for Germany have brightened up on 6 month horizon
- Positive sentiment may soon result in companies investing
- Economic situation of important German trade partners still considered to be weak
- German economy expected to grow at moderate level this year
- Some 80% of respondents expect no change in ECB policy rates in next 6 months