Release Explanation: A survey of the sentiment of the public regarding current and future economic conditions. The release builds an economic picture of the mood of the economy’s.
Trade Desk Thoughts: The consumer climate in Germany for the month of March 2009 rose unexpectedly. The previous read, for February, was revised slightly higher to 2.3. German consumers face difficult times ahead, as uncertainty regarding the economic future mounts. However, respondents are starting to see smaller worries from the inflationary pressures that until recently, threatened to cut consumption.
Forex Technical Reaction: The euro had a weak reaction to the news release. The pair is now trading around the Asian open price, after it tested earlier the low of the last day of trading.