Dukascopy Bank Team
Dukascopy Bank SA
EUR/USD: German ZEW Economic Sentiment
The European Common Currency traded sideways against the US Dollar, following the German ZEW Economic Sentiment data release on Tuesday at 9:00 GMT. The EUR/USD exchange currency rate lost 8 pips or 0.08% right after the release. The Euro continued trading at the 1.1185 level against the Greenback.
ZEW released the German ZEW Economic Sentiment data, which came out worse-than-expected of negative 21.5 compared with forecast negative 5.7. Note, that the Euro was also pressured by the speech of the ECB President Mario Draghi.
According to the official release: "The sharp drop in the ZEW Indicator of Economic Sentiment coincides with an increased uncertainty regarding the future development of the global economy and substantially worsened figures for the German economy at the beginning of the second quarter."
AUD/USD: Australian Monetary Policy Meeting Minutes
The Australian Dollar depreciated against the US Dollar, following the Australian Monetary Policy Meeting Minutes data release on Tuesday at 01:30 GMT. The AUD/USD exchange currency rate lost 11 pips or 0.16% right after the release. The Aussie continued trading at the 0.6844 level against the Greenback.
Reserve Bank of Australia released the Australian Monetary Policy Meeting Minutes data, where the Australian policymakers provided in-depth insights into the economic and financial conditions that influenced their vote on where to set interest s rates.
According to the official release: "GDP growth outcomes for the March quarter in some economies had been slightly stronger than the second half of 2018, while labour markets had remained tight. However, global trade and conditions in the global manufacturing sector had remained weak. New export orders had been little changed at subdued levels and growth in industrial production had slowed in many economies, including those economies in east Asia that are closely integrated with global supply chains."
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