- German ZEW Survey (Current Situation) (Dec) M/M 5.7 vs. Exp. 6.0 (Prev. 5.4)
- ZEW says Germany will not have to face a recession although cooling down of economic activity will last until beginning of 2013.
- German economy likely to bottom out rather than turn up in next 6 months.
- The data came in far above the analyst's high estimate of -5.0.
- In immediate reaction to the better than expected data release:
- EUR/USD moved from 1.2962 to 1.2974.
- Dax future moved from 7569 to 7581.
- Mar-Bund future moved lower from 145.57 to 145.38.
Print 10:00, 11 Dec 2012 - EU Data - Source: Newswires
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