#EURUSD @ 1.04059 EURUSD to advance further in case of a solid recovery of the ZEW index – Commerzbank
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What is of great interest today is whether the German ZEW index will be able to support the Euro a little bit more. Solid data could allow the shared currency to enjoy further gains, economists at Commerzbank report.
“A significant recovery of the index could be interpreted as a sign of reversal. It could then also confirm the view amongst market participants that the ECB can implement its signalled rate cycle as restrictively as it is clearly suggesting to. I could therefore imagine that against the background of the current Dollar weakness such a signal might provide additional support to the Euro.
“I would not be surprised if the Euro was able to appreciate further short-term in case of a solid recovery of the ZEW index.”
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