Economic Sentiment Soars In Germany — Euro Now Spiking

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Photo: jurvetson / Flickr

Kind of a rocky morning.After tanking earlier — perhaps due to false rumours about Bundesbank Chief Jens Weidmann resigning — now the Euro is tanking.

Helping things out: A huge upward spike in economic optimism, as measured by the ZEW survey.

From the report (.pdf):

The ZEW Indicator of Economic Sentiment for Germany has increased by 24.6 points in January 2013. The indicator now stands at a level of 31.5 points, thereby reaching its highest level since May 2010. The indicator’s further increase shows that according to the financial market experts the economic perspectives for Germany have brightened up on a six months’ time horizon. It might have contributed to experts’ optimism that the markets’ uncertainty concerning the future of the Eurozone has diminished for the time being.

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