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 drop to -20.0 in July as against a -21.1 reading booked in the previous month. Meanwhile, the Current Situation Sub-Index is likely to arrive at 5.0 versus a 7.8 figure in last month.     

How could they affect EUR/USD?

FXStreet´s own Analyst, Haresh Menghani writes: “From a technical perspective, the pair’s inability to sustain above an important confluence region - comprising of 100-day SMA and 38.2% Fibo. level of the 1.1412-1.1194 recent downfall, warrant some caution for bullish traders. Sustained move beyond the mentioned barrier, leading to a subsequent breakthrough the 1.1300 handle will now be seen as a key trigger for bullish traders and set the stage for a further near-term appreciating move for the major.”

“On the flip side, the 1.1240 region - the 23.6% Fibo. level might continue to act as immediate support, below which the pair is likely to accelerate the slide further towards challenging the 1.1200 round figure mark. Failure to defend the mentioned handle, leading to a subsequent slide below the 1.1185-80 region might turn the pair vulnerable to resume its prior bearish trend .,” Haresh adds.

Key Notes

Europe: Politics in focus today - TDS

EUR Futures: upside running out of steam

EUR/USD: Positive bias - Commerzbank

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD retreats after strong NFP, weak German data

EUR/USD is trading below   1.11 after US Non-Farm Payrolls beat expectations with 266K and mixed wage growth. Earlier, weak German data weighed on the euro. Updates on trade are awaited.

EUR/USD News

GBP/USD shrugs off strong NFP, focuses on UK elections

GBP/USD is trading below 1.3150 but off the post-NFP lows. The US gained more jobs than expected. The Conservatives remain in the lead ahead of the debate between PM Johnson and Labour leader Corbyn.

GBP/USD News

US recession? Not so fast, a calm look at the economy and currencies ahead of the NFP

Recent US economic indicators have been downbeat, but they include silver linings and are backed by robust consumption. Valeria Bednarik, Joseph Trevisani, and Yohay Elam...

Read more

Gold drops to fresh multi-day lows on upbeat NFP report

Gold faded an intraday bullish spike to the $1480 area and tumbled to fresh multi-day lows, around the $1465 region in reaction to upbeat US monthly jobs report.

Gold News

USD/JPY: bearish ahead of US employment figures

Japanese data missed the market’s expectations, triggering fresh concerns about the economy. Focus on US employment figures, market players anticipate dismal numbers. USD/JPY is technically bearish could break below the 108.00 level.

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures