The ZEW Indicator for Economic sentiment jumped to 48.2 points in February, far exceeding the forecasted figure of 35 and being on the rise for three months in a row.
Germany’s economic confidence showed a significant increase, reaching its highest level in 34 months and signaling for stabilization in the euro zone. Analysts commented that the euro is responding to those signs, but ‘’nothing more’’ as investors’ confidence is still weary about the region’s prospects.
Looking further in the day, the EUR/USD is expected to experience more volatility as the European Commission will release the Consumer confidence report for February. If the reading shows improvement compared to the previous result, as forecasted, this might help the euro offset some of its intraday losses today.
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