Investing.com - German economic sentiment unexpectedly jumped in June, bolstering optimism in the motor of the euro zone economy, industry data showed on Tuesday.
In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment unexpectedly jumped to 19.2 this month from May's reading of 6.4. Analysts had expected the index to fall to 4.7 in June.
On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.
The Current Conditions Index also rose to 54.5 this month from 53.1 in May, compared to expectations for a decline to 53.0.
Meanwhile, the index of euro zone economic sentiment also surprised with an increase to 20.2 in June from 16.8 a month earlier, settling well above forecasts for a drop to 15.3.
EUR/USD was trading at 1.1336 from around 1.1340 ahead of the release of the data, while EUR/GBP was at 0.7683 from 0.7689 earlier.
Meanwhile, European stock markets were mixed. The Euro Stoxx 50 rose 0.14%, Germany's DAX gained 0.13%, France's CAC 40 added 0.15%, while London's FTSE 100 slipped 0.10%.
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