Way up from 4.3 in December, and much stronger than median forecast of 6.8.

EUR/USD rallies on data, presently at 1.3422.

ZEW institute says:

  • Investment is gaining momentum in Germany as well as abroad
  • Investment backed by current data on incoming orders in German industry
  • US data raise hopes for continued global economic growth
  • Increased job security stimulates private consumption in Germany