Investor morale in Germany hits highest level since last April
GERMAN analyst and investor sentiment leapt to its highest level since April 2011 in February, smashing expectations and sending the euro to a session high, in a sign that Europe’s bulwark economy is picking up pace again.
The widely-regarded monthly ZEW poll of economic sentiment jumped for the third month in a row, rising to 5.4 from -21.6 in January. This was the first time the index turned positive since May.
“The economic weakness at the turn of the year is starting to look more and more like it was just a mere dent,” said Rainer Sartoris at HSBC Trinkaus. “The economy is stabilising.”
The ZEW data sent the euro to a session high against the dollar and German Bund futures to a session low.