Investing.com - German economic sentiment rose much less than expected in October, dampening optimism over the euro zone economy, industry data showed on Tuesday.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment inched forward to 17.6 this month from September’s reading of 17.0. Analysts had expected the index to increase to 20.0.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
The Current Conditions Index fell to 87.0 this month from 87.9 in September. That was compared to expectations for rise of 89.0.
Meanwhile, the index of euro zone economic sentiment slumped to 26.7 from 31.7 a month earlier. Forecasts predicted a rise to 34.2.
After the report, EUR/USD was trading at 1.1764 from around 1.1767 ahead of the release of the data, while EUR/GBP was at 0.8872 from 0.8860 earlier.