EURUSD to advance further in case of a solid recovery of the ZEW index – Commerzbank
|
What is of great interest today is whether the German ZEW index will be able to support the Euro a little bit more. Solid data could allow the shared currency to enjoy further gains, economists at Commerzbank report.
Additional support for the Euro?
“A significant recovery of the index could be interpreted as a sign of reversal. It could then also confirm the view amongst market participants that the ECB can implement its signalled rate cycle as restrictively as it is clearly suggesting to. I could therefore imagine that against the background of the current Dollar weakness such a signal might provide additional support to the Euro.
“I would not be surprised if the Euro was able to appreciate further short-term in case of a solid recovery of the ZEW index.”
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.