Investing.com - German economic sentiment improved more than expected in November, one month after falling to the lowest level in a year, industry data showed on Tuesday.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment rose by 8.5 points to 10.4 this month from October’s reading of 1.9, which was a 12-month low.
Analysts had expected the index to rise by 4.1 points to 6.0 in November.
The Current Conditions Index inched down to 54.4 this month from 55.2 in October, worse than expectations for a reading of 55.0.
Meanwhile, the index of euro zone economic sentiment declined to a 12-month low of 28.3 in November from 30.1 a month earlier, missing forecasts for 35.2.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
EUR/USD was trading at 1.0665 from around 1.0667 ahead of the release of the data, while EUR/GBP was at 0.7010 from 0.7012 earlier.
The Investing.com euro index, which tracks the single currency against a basket of six major rivals, was at 85.96, compared to 85.97 ahead of the report.
Meanwhile, European stock markets were broadly higher. Germany\'s DAX rallied 1.65%, the EURO STOXX 50 jumped 1.8%, France’s CAC 40 rose 2.1%, while London’s FTSE 100 advanced 1.75%.