Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
Big Event for EUR: ZEW Economic Sentiment
What will happen?
Euro Zone will reveal the ZEW Economic Sentiment index at 12:00 MT (GMT+2) on Tuesday, November 9. The indicator shows the view of investors and analysts on the 6-month economic outlook for the Eurozone. The survey is historically focused on the German economy as Germany tends to lead the Eurozone economy, so pay close attention to the German Economic Sentiment which is released at the same time.
Why is it important?
Last time, the EU ZEW Economic Sentiment came out worse than expected. As a result, EUR/USD dropped by 360 points after the release.
How to trade on ZEW Economic Sentiment?
It’s easy! Compare the actual data with the forecast in the economic calendar.
- If the indicator is greater than the forecasts, the EUR will rise.
- Alternatively, the EUR will drop.
Instruments to trade: EUR/USD, EUR/GBP, EUR/JPY, and other pairs with the EUR.
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