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So far this year, the EUR has been weakening against its major counterparts.
Unfortunately for euro bulls, there isn’t much in the way of news this week that might invert the fundamental scenario. Technical analysis also shows that the is euro under pressure.
The only major event for the week is the publication of the ZEW Economic Sentiment survey. This gives some important insight into how the German and eurozone economy is performing. It also indicates what expectations are for the next six months.
Analysts and traders are especially interested in the forward-looking component. This is because it’s an indicator of how willing major institutions are to take on risk and make new investments.
Often, it can predict swings in the economy in advance.
What We Are Looking For
Expectations are for economic sentiment in Germany to remain positive, but fall back a bit compared to the recent positive.
What usually moves the markets is the Economic Sentiment Indicator (ESI). Projecti...
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