Data released earlier by the ZEW institute showed that German investor confidence has bounced back. The euro, however, showed a muted reaction to the report.
ZEW’s forward-looking growth expectations index jumped to 10.4, from just 1.9 in October. It suggests Europe’s largest economy will keep growing in the final months of 2015.
Analysts had expected the gauge to rise by 4.1 points to 6.0 in November.
The Current Conditions Index declined to 54.4 this month from 55.2 in October, worse than expectations for a reading of 55.0.
In the meantime, the index of euro zone economic sentiment declined to a 12-month low of 28.3 in November from 30.1 a month earlier, below forecasts for 35.2. A level above 0.0 signals an upbeat mood, while anything below 0.0 indicates pessimism.
EUR/USD was last seen at 1.0667, down 0.19%, while EUR/GBP dipped 0.18% to trade at 0.7017.
Earlier, data showed that consumer price inflation in the U.K. remained unchanged for the second straight month in October.
