Mixed results from the German ZEW survey
Mixed results from the German ZEW survey
The ZEW current situation survey came out stronger than expected at 91.5 against a previous 87.1 and an expected 87.5. However the ZEW economic sentiment index declined to 3.1 from a previous 7.6 and an expected 4.5.
The current situation is mainly focused on the current health of the German economy, while the Economic sentiment takes an outlook for inflation, interest rates, exchange rates and the general economic situation in the coming six months.
Comments reported on media, show that it is anticipated that the German economy is expected to grow strongly in 2011 but growth will gradually moderate later during the year.
The EUR/USD currency pair initially experienced an increase in price levels, but gains for the Euro where short lived as it was seen paring its gains in the hour after the data was released.
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