In its monthly report published on Monday, German Economy Ministry noted that current early indicators do not yet point to a sustainable economic recovery in coming months, per Reuters.

"On the domestic front, the expected cautious recovery in private consumption, services and investment is showing the first signs of hope, which are likely to strengthen as the year progresses," the report further read.

Market reaction

This report doesn't seem to be impacting the Euro's valuation in a noticeable way. As of writing, EUR/USD was virtually unchanged on the day at 1.0948.