Market Update: German ZEW Economic Sentiment Jumps to -15, EUR/USD Spikes!
Arslan Butt • 1 min read
As per the recent report from Zentrum fur Europaische Wirtschaftsforschung, the German economic sentiment came out better than expected at -15 vs. -18.8. It’s a survey of about 300 German institutional investors and analysts which asks respondents to rate the relative 6-month economic outlook for Germany.
The EUR/USD took a dip to1.1350 but reversed upward on the release. The pair is likely to face an immediate resistance near 1.1370 along with support around 1.1340.