EURUSD: ECB detects leaked report
EUR/USD retreated moderately on Tuesday. It jumped to 1.0769, its highest in a week during the Asian session, but then reversed course, holding above 1.0700. Markets await US consumer inflation data and the European Central Bank meeting.
Data released on Tuesday showed a mixed survey by Germany's ZEW. The current conditions index weakened further to -79.4 (lowest since August 2020) down from -71.3, while the Expected index reached -11.4, above the -15.0 forecast. The report provides more signals about a potential recession in Germany and the Eurozone. These factors weigh on expectations of an interest rate hike by the European Central Bank.
Data released on Tuesday showed a mixed survey by Germany's ZEW. The current conditions index weakened further to -79.4 (lowest since August 2020) down from -71.3, while the Expected index reached -11.4, above the -15.0 forecast. The report provides more signals about a potential recession in Germany and the Eurozone. These factors weigh on expectations of an interest rate hike by the European Central Bank.
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