Investing.com - German economic sentiment rebounded in March from the lowest level since October 2014 in February, industry data showed on Tuesday.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment rose to 4.3 this month from February’s reading of 1.0. Analysts had expected the index to rise to 5.0 in March.
The Current Conditions Index unexpectedly fell to 50.7 this month from 52.3 in February, compared to expectations for an increase to 53.0.
Meanwhile, the index of euro zone economic sentiment dropped to a 15-month low of 10.6 in March from 13.6 a month earlier, settling above forecasts for a reading of 8.2.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
EUR/USD was trading at 1.1202 from around 1.1207 ahead of the release of the data, while EUR/GBP was at 0.7840 from 0.7837 earlier.
Meanwhile, European stock markets were broadly lower. Germany's DAX shed 0.27%, the Euro Stoxx 50 dipped 0.29%, France’s CAC 40 fell 0.32%, while London’s FTSE 100 lost 0.49%.