EUR/USD Nudges Higher After Mixed Euro Area, German ZEW Readings
EUR/USD Price, Chart, and Analysis
- ZEW Euro Area sentiment fell by 0.8 points to 48.6.
- ZEW German economic sentiment rose by 2.6 points to 54.3
The latest ZEW releases showed the economic outlook in Germany improving in February ‘despite growing economic and political uncertainties’. According to ZEW President Professor Achim Wambach, financial market experts expect an economic recovery in H1, while ‘more than 50 per cent of the experts now predict that short-term interest rates in the Euro Area will rise in the next six months’. While a notable improvement, today’s German reading missed market expectations. The Euro Area reading fell by 0.8 points to 48.6 in the same timeframe.
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EURUSD has moved higher on the session, initially boosted by a potential cooling in the Russia/Ukraine crisis, while the ZEW release gave the pair an extra push higher.
EUR/USD 5 Minute Price Chart – February 15, 2022
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