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Nov 12 - 05:00 AM
EUR/USD - ZEW's Expected Improvement Won't Alter EUR/USD Direction
First appeared on eFXplus on Nov 12 - 02:40 AM
  • Germany's November ZEW data seen -13 from -22.8

  • Big improvement but still negative, won't alter current rates/ECB policy

  • ECB APP began Nov 1, so yet to really be felt in FX or bonds

  • Better data will support risk. Risk-on EUR/USD bet is short for carry

  • Data should add weight on EUR/USD within current 1.09-1.12 bounds

  • Daily cloud top @ 1.1064 weighs. Today's range so far below 55-DMA 1.1039

EUR/USD daily Click here

Refinitiv IFR Research/Market Commentary


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