When is the German ZEW survey and how could it affect EUR/USD?
|German ZEW Survey Overview
The ZEW will release its German Economic Sentiment Index and the Current Situation Index at 0900 GMT in the EU session later today, reflecting institutional investors’ opinions for the next six months.
The headline economic sentiment index is expected to rebound to 0.8 in April as against a -3.6 reading booked in the previous month. Meanwhile, the current situation sub-index is likely to decelerate further to 8.0 versus 11.1 recorded in March.
How could affect EUR/USD?
FXStreet´s own Analyst, Haresh Menghani writes: “It would be prudent to wait for a sustained move beyond the mentioned barrier before traders start positioning for any further up-move towards reclaiming the 1.1400 round figure mark with some intermediate resistance near 61.8% Fibo. level, around mid-1.1300s.”
“On the flip side, weakness below the 1.1290-80 region (38.2% Fibo. level) now seems to find decent support near the lower end of the trend-channel, currently near the 1.1265 region, which if broken might turn the pair vulnerable to slide further below 23.6% Fibo. level, around the 1.1245 area, towards challenging the 1.1200 round figure mark,” Haresh adds.
Key Notes
EUR/USD hanging around 1.1300 ahead of German ZEW
German ZEW and UK employment amongst market movers today – Danske Bank
Go long EUR/USD: Trade of the week – Morgan Stanley
About German ZEW
The Economic Sentiment published by the Zentrum für Europäische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).
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.