Investing.com - German economic sentiment continued to advance in April, improving for the second consecutive month from the lowest level since October 2014 that was registered 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 11.2 this month from March’s reading of 4.3. Analysts had expected the index to rise to 8.0 in April.
The Current Conditions Index, however, unexpectedly fell to 47.7 this month from 50.7 in March, compared to expectations for an increase to 51.0.
Meanwhile, the index of euro zone economic sentiment unexpectedly jumped to 21.5 in April from 10.6 a month earlier, settling well above forecasts for a reading of 8.8.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
EUR/USD was trading at 1.1327 from around 1.1324 ahead of the release of the data, while EUR/GBP was at 0.7908 from 0.7907 earlier.
Meanwhile, European stock markets were broadly higher. The Euro Stoxx 50 rose 1.32%, Germany's DAX gained 1.93%, France’s CAC 40 added 1.21%, while London’s FTSE 100 traded up 0.51%.