The headline German ZEW Economic Sentiment Index jumped from 31.7 in March to 42.9 in April, beating the market expectations of 35.1.
However, the Current Situation Index improved from -80.5 to -79.2 in the same month.
The Eurozone ZEW Economic Sentiment Index arrived at 43.9 in April, much higher than the March reading of 33.5. The data outpaced the market consensus of 37.2.
A recovering global economy is boosting expectations for Germany, with half of the respondents anticipating the country’s economy to pick up over the next six months.
Further contributing to the heightened optimism are the much-improved assessments of the situation and economic expectations in Germany’s export destinations.
This is reflected, among other things, in the expected appreciation of the us dollar against the Euro.
The EUR/USD pair is little impresseed by encouraging German and Eurozone ZEW surveys. The pair is amost unchanged on the day at 1.0620, at the press time.