Today, two events will shake the US dollar. First, at 16:45 GMT+2, Markit, a statistical company, will release the US Flash Services PMI. Moreover, at 21:00 GMT+2, the Federal Reserve will release its meeting minutes.
How will EUR React to ZEW Economic Sentiment Index?
What will happen?
ZEW Economic Sentiment index will be announced at 12:00 MT (GMT+3) on Tuesday, August 10.
The indicator shows the view of German institutional investors and analysts on the 6-month economic outlook for the Eurozone. It’s an index based on a survey of 275 professionals. The survey is historically focused on the German economy, and Germany tends to lead the Eurozone economy, so this overall Eurozone outlook tends to be overshadowed by the German data released at the same time. It’s a leading indicator of the region’s economic health – investors and analysts are highly informed by virtue of their job, and changes in their sentiment can be an early signal of future economic activity.
ZEW Economic sentiment index
How to trade on ZEW Economic sentiment index?
- If the indicator is greater than the forecast, the EUR is likely to strengthen against other currencies.
- If the indicator is lower than the forecast, the EUR is likely to weaken against other currencies.
Instruments to trade: EUR/USD, EUR/AUD, EUR/NZD
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