COM: Euro rises after mixed ZEW economic sentiment figures
FXstreet.com (Barcelona) - The Euro has risen against its major rivals after the release of German ZEW economic sentiment index, which shows a brighter assessment on the current economic situation, while economic expectations for Germany and the Eurozone have deteriorated.
EUR/USD has risen from 1.23880 to 1.2424, although the pair has eased afterwards to levels right at 1.2400. EUR/JPY has bounced up from 114.85 to 115.25 after ZEW figures approaching session high at 115.45, while EUR/GBP extended rally from 0.8540 to session high at 0.8600.
German ZEW economic sentiment for Germany dropped to 45.8 in May from 53.00 in April, while the economic sentiment for the Eurozone weakened to 37.6 in May from 46 in April. The Cur3ent situation Index, however, has improved in May to -21.6, from -39.2 in April.
