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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