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The ZEW of economic sentiment for Germany and the Eurozone surprises with a strong improvement in January

The index ZEW of economic sentiment in the euro zone has jumped in January to 16.7 points after scoring -23.6 in December. This is the first positive figure after ten consecutive months in negative. The result notably improves the -61.5 points expected by the market consensus, being the best score seen since feb 2022.

The ZEW of Germany Economic Sentiment has drawn a similar drawing, improving upon +16.9 from the previous -23.3, surpassing the -15.5 estimated by the market.

The ZEW of current situation German has moderated in January to -58.6 from -61.4, although worsens the -57 expected by the experts. This is the fourteenth consecutive negative month for the indicator, which nevertheless shows its best level in five months, since August 2022.

EUR/USD reaction

The EUR/USD has bounced after the release, first rising to 1.0827 before falling to 1.0810, approaching the daily low of 1.0806. At time of writing, the pair is trading around 1.0814, shedding 0.06% on the day.

Source: Fx Street

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