Investing.com - German economic sentiment improved more than expected in November, bolstering optimism over the motor of 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 rose to 13.8 this month from October’s reading of 6.2. Analysts had expected the index to increase to 8.1 in October. That was its highest level since June of this year.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
The Current Conditions Index unexpectedly fell to 58.8 this month from 59.5 in October, compared to expectations for an increase to 61.5.
Meanwhile, the index of euro zone economic sentiment increased to 15.8 in November from 12.3 a month earlier. Consensus was looking for an increase to 14.3.
EUR/USD was trading at 1.0799 from around 1.0801 ahead of the release of the data, while EUR/GBP was at 0.8685 from 0.8692 earlier.
Meanwhile, European stock markets were trading mixed. The benchmark Euro Stoxx 50 lost 0.19%, Germany's DAX slipped 0.03%, France’s CAC 40 gained 0.28%, while London’s FTSE 100 advanced 0.78%.