German economic sentiment beat expectations yesterday noon, as the figures released showed not the expected 0.8, but a climb to 3.1 points. This puts the figures into the positive for the first time since March 2018. The wider Eurozone economic sentiment index also came in at 4.5 points. Construction output was also up by over five points, at 5.2 – a five-year high. All in all, it was a positive day for the Eurozone, and the euro strengthened accordingly.
Today has also begun positively, with current accounts coming in higher month on month, up from 9.33 to 15.5 between January and February. It is, however, far below December’s 41.49. Later today, we will see the Eurozone’s balance of trade figures for February, also expected to come in positively.