Is Euro (EUR) Going To Rise And Successfully Pursue (USD) US Dollar? Unexpected rise in German economic sentiment supports the euro | FxPro

Is Euro (EUR) Going To Rise And Successfully Pursue (USD) US Dollar? Unexpected rise in German economic sentiment supports the euro | FxPro

Economic Sentiment in Germany rose unexpectedly, according to the latest May assessment. The corresponding ZEW indicator rose to -34.3 in May from -41.0 a month earlier against expectations of a dip to -43.0.

Unexpected rise in German economic sentiment supports the euro - 1

Germany, for which China is the main export market, is looking with concern at the lockdown in the second world economy

Meanwhile, current assessment of the economic situation continues to deteriorate, both under the influence of the situation in Ukraine and due to a slowdown in China. Germany, for which China is the main export market, is looking with concern at the lockdown in the second world economy and the resulting economic slowdown and falling demand for machinery and cars from Germany.

The positive surprise helps EURUSD stabilise near 1.0500

Despite the lapse in the current assessment, investors and traders are paying more attention to sentiment. The positive surprise helps EURUSD stabilise near 1.0500 and reinforces bulls' hopes that a straight road below parity is not yet a done deal.

Alex Kuptsikevich

Alex Kuptsikevich

Financial market professional with 16-years' experience and Senior financial analyst at FxPro. Author of daily reviews on the impact of economic events with comments regularly featured in top international and Russian media. Covers fundamental analysis, global markets, foreign exchange market, gold, oil, cryptocurrencies.

Alex Kuptsikevich is a regular contributor to both digital and print media including CNBC, Forbes, Reuters, MarketWatch, BBC and Coindesk.