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Dismal ZEW Expectations Survey Sends EUR/USD to 1-Month Low

Dismal ZEW Expectations Survey Sends EUR/USD to 1-Month Low

David Maycotte,

Talking Points:

Germany’s ZEW Survey of investor confidence reported mixed as the forward-looking expectations gauge fell for the fifth consecutive month to 33.1 (40 consensus and 43.2 in April). Economic expectations for the Eurozone also lost ground as the indicator fell from 61.2 to 55.2 in May.

Currency

Release

Actual

Survey

Previous

EUR

Eurozone ZEW Survey (Economic Sentiment) (May)

55.2

61.2

EUR

German ZEW Survey (Current Situation) (May)

62.1

60.5

59.5

EUR

German ZEW Survey (Economic Situation) (May)

33.1

40.0

43.2

The survey weighed heavily on the euro sending EURUSD to a one month. Last week the Euro fell significantly against the US dollar as the ECB announced the possibility of intervention in June as the FX rate is uncomfortably high.

Dismal ZEW Expectations Survey Sends EUR/USD to 1-Month Low

EUR/USD 5 min Chart –May 13, 2014. Chart Creating Using FXCM Marketscope 2.0

-- Written by David Maycotte, DailyFX Research Team. Questions, comments or concerns can be sent to instructor@dailyfx.com.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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