Market Update: German ZEW Economic Sentiment Jumps to -15, EUR/USD Spikes!
The ZEW German economic sentiment came out better than expected at -15 vs. -18.8. The EUR/USD spikes on news.
Arslan Butt•Tuesday, January 22, 2019•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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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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