- Economic sentiment in Germany and the EU increased in December.
- EUR / USD struggles to gain traction despite upbeat ZEW survey.
Germany’s latest ZEW survey showed that economic sentiment improved sharply to 55 points in December from November 39 and beat the market expectation of 46 points by a wide margin. In a negative tone, the current situation was reduced to -66.5 points and was slightly worse than analysts’ estimate of -66.
Finally, EU economic sentiment rose from 32.8 to 54.4 in December.
“The announcement of the imminent approval of vaccines makes financial market experts more confident about the future,” ZEW said in its publication.