GBP/EUR: Pound Recovers vs Euro As Brexit Enters Decisive Phase
  • German ZEW Economic Sentiment prints at 61.8 in Jan vs. 60.0 expected.
  • ZEW Current Situation printed at -66.4 in Jan vs. -68.5 expected
  • EUR/USD advances to 1.2125 on upbeat ZEW data

The German ZEW data for January revealed that the Economic Sentiment Index rose to 61.8 versus 60.0 expected and 55.0 in December.

The Current Conditions sub index printed at -66.4 in Jan versus -68.5 expected and -66.5 booked previously.

Meanwhile, the Eurozone ZEW Economic Sentiment for Jan rose to 58.3 vs. 45.5 expected and 54.4 in December.

EUR/USD reaction

EUR/USD trades well bid on the upbeat data. The pair trades  +0.42% on the day, at 1.2125 near the daily high.

Meanwhile the safe-haven US dollar is under pressure amid rising stimulus hopes. Treasury Secretary nominee Janet Yellen’s testimony is up next.