Germany’s ZEW Investor Expectations Survey fell to 19.2 in August, weaker than expected and well below the July reading of 41.8, it said. Shaun Osbornechief FX strategist at Scotiabank.
Bulls are struggling to break above 1.0950
“The survey was conducted during recent market volatility, so a weak number is not too surprising. EUR/USD was edging lower ahead of the data and hit an intraday low of 1.09 around the ZEW release before stabilising. The Euro (EUR) remains well supported on dips and is likely to continue range-trading for now.”
“Spot remains range bound by support at 1.0875 and resistance at 1.0950. Trend momentum is neutral on the intraday chart, but EUR maintains a positive tone on longer-term studies, keeping directional risks tilted towards further gains—eventually.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
