Investing.com - German economic sentiment deteriorated unexpectedly in April, dampening optimism over the health of the euro zone's largest economy, industry data showed on Tuesday.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment declined by 1.5 points to 53.3 this month from March’s reading of 54.8. Analysts had expected the index to improve by 0.5 points to 55.3 in April.
The Current Conditions Index improved to 70.2 this month from 55.1 in March, better than expectations for a rise to 56.0.
Meanwhile, the index of euro zone economic sentiment increased to a 14-month high of 64.8 in April from 62.4 in March, above forecasts for a gain to 63.7.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
EUR/USD was trading at 1.0680 from around 1.0682 ahead of the release of the data, while EUR/GBP was at 0.7182 from 0.7181 earlier.
Meanwhile, European stock markets were broadly higher. Germany's DAX jumped 1.25%, the EURO STOXX 50 rose 0.7%, France’s CAC 40 advanced 0.6%, while London’s FTSE 100 eased up 0.3%.