Market Update: German ZEW Economic Sentiment Jumps to -15, EUR/USD Spikes! - Forex News by FX Leaders

Market Update: German ZEW Economic Sentiment Jumps to -15, EUR/USD Spikes!

Posted Tuesday, January 22, 2019 by
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.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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