Investing.com - German economic sentiment fell unexpectedly in December, as optimism over the strength of the motor of the euro zone economy falls, industry data showed on Tuesday.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment fell to 17.4 this month from November’s reading of 18.7. Analysts had expected the index to increase to 18.0 in December.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
However, the Current Conditions Index rose to 89.3 this month from 88.8 in November. A reading of 88.5 was expected.
Meanwhile, the index of euro zone economic sentiment decreased to 29.0 in December from 30.9 a month earlier. Consensus was looking for a slight dip to 30.2.
After the report, EUR/USD was trading at 1.783 from around 1.1784 ahead of the release, EUR/GBP was at 0.8830 from 0.8820 earlier, while EUR/JPY changed hands at 133.68 compared to 133.67 ahead of the data.