FXStreet (Delhi) – Research Team at TDS, notes that the German ZEW surprised markets and us significantly on the upside, with the headline index rising from 55.0 in December to 59.7 in January (markets and TD were looking for a decline), while the expectations index fell from 16.1 to 10.2, a smaller decline than was expected. Key Quotes “A lot of the strength was seen in the automobile industry, where sentiment has recovered significantly since its October low. Construction and utilities sentiment also improved on the month. Euro area final inflation for December confirmed the preliminary prints, with 0.2% y/y for headline inflation and 0.9% for core. Euro area construction increased 0.8% m/m in November following a 0.6% m/m rise in October.” For more information, read our latest forex news.