Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
EUR/USD Muted Following Mixed ZEW Survey, Euro Risks Remains Lower

EUR/USD Muted Following Mixed ZEW Survey, Euro Risks Remains Lower

Justin McQueen,

EUR/USD Analysis and News

  • EUR/USD Muted on Mixed ZEW Survey
  • Bias Remains to Fade Euro Rallies

The Euro and DAX saw a subdued reaction following a mixed ZEW report. Economic sentiment fell to 29.9 from 31.7 a month prior, however, printed above expectations, while current conditions fell 7.4, missing estimates of 5.0. German Investor confidence weakened in December amid a fourth Covid wave, while persistent supply bottlenecks in manufacturing added to the layer of uncertainty surrounding Germany’s growth outlook.

DailyFX Economic Calendar

What’s more, the ZEW President stated that the decline in economic expectations signals that optimism over a stronger growth outlook are beginning to fade. This in turn, has factored into the ECB’s thinking, given source reports suggesting that the central bank may wait until next year before announcing any notable policy changes.

EUR: Marginal softness for the Euro, and as noted last week, the bias remains to fade rallies in the Euro. Near-term support for the pair is situated at 1.1230-35 and below 1.1370, risks remain to the downside.

EUR/USD Chart: Hourly Time Frame

Source: Refinitiv

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