The euro is at a one week low against the dollar, due to strength from the greenback.
The ZEW Indicator of Economic Sentiment figure for Germany was released yesterday, increasing by 9.4 points from the previous month to 71.2 in February, well above market forecasts. This shows that analysts are more optimistic about the future of the German economy and there are hopes for growth over the next 6 months.
Euro Area GDP declined by 0.6% in the fourth quarter of last year, while analysts expected that it would decrease by 0.7%.
The European Central Bank are holding their Non-Monetary Policy meeting this morning, in which the Eurozone’s financial system is discussed.
