The Centre for European Economic Research (ZEW) has reported that its German economic sentiment indicator improved to -53.5 in November from -63 in October, better than the market median forecast of -63. Recent ECB/Global monetary easing and the plethora of fiscal packages will no doubt have helped improve sentiment. However despite the improvement in the economic sentiment indicator, the German current assessment component continued to fall, down at -50.4 in November from 35.9 in October and lower than the median forecast of -45.0. Meanwhile EUR/USD is at 1.2760, down from a session high 1.2800.