ZEW institute June German economic sentiment index has come in at 44.8 vs 31.1 in May, way better than the median forecast of 34.0, and even better than the rumoured figure of 40.0.
The institute says the recovery in sentiment shows consolidation in optimism, and can also be seen as a positive signal on future lending conditions by banks. The results are seen suggesting recession nearing it’s lowest point.
EUR/USD has shot higher, presently at 1.3910
