When is German ZEW and how could affect EUR/USD?

German ZEW surveys Overview

The ZEW will release its Economic Sentiment Index for the next six months for Germany, as well as the Current Situation Index at 0900GMT in the EU session later today, reflecting institutional investors’ opinions.

The headline economic sentiment index is seen edging slightly higher to 21.5 in June after a 20.6 reading registered in May. While the current situation sub-index is also expected to improve in June, and is seen arriving at 85.0 versus 83.9 last.

How could affect EUR/USD?

A better ZEW survey may offer the EUR bulls some respite, sending the EUR/USD pair back towards yesterday’s highs at 1.1235. However, if the readings disappoint, the rate could extend the drop to test weekly lows of 1.1165.

Key notes

Forex Today: Commodity-currencies rally in Asia, UK CPI, ZEW eyed

EUR/GBP corrects to 0.8825 ahead of UK CPI and German ZEW

About German ZEW Surveys

The Economic Sentiment published by the Zentrum für Europäische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).