EUR slips back from low 1.05 area – Scotiabank
|Germany’s February ZEW Investor Survey reflected a stronger than expected rise in the Expectations index (26, versus 20 expected and 19.3 in January), Scotiabank's Chief FX Strategist Shaun Osborne notes.
Germany’s ZEW survey jumps
"The improvement likely reflects hopes that the Federal election will produce a pro-growth, market friendly government. Challenges around the outlook remain. A peace deal for Ukraine would be a positive for Europe but the flipside is that more defence spending will surely entail more government borrowing ahead."
"Minor Euro (EUR) losses vs US Dollar (USD) yesterday and (so far) today suggest recent EUR gains have stalled. The fact that the EUR rebound has (again, so far) failed to retest the late January peak at 1.0533 keeps the broader outlook for the single currency somewhat negative, despite recent gains."
"Regaining 1.0490/00 in the next day or so is needed to reinvigorate the near-term move higher. Support is 1.0445/50 and 1.0375/80."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.