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Gernan ZEW recovers to 10.4 points

Slightly better than expected business sentiment in Germany: 10.4 points according to ZEW. The current conditions figure stands at 54.4 points,  similar to the previous month.

EUR/USD is trading around 1.0665.

The German ZEW Economic Sentiment was expected to bounce back from the lows, rising from 1.9 to 5.5 points, remaining in  optimistic ground and escaping outright pessimism. The current conditions figure carried expectations for remaining around 55 points.

EUR/USD  was trading on lower ground, around 1.0670,, due to dollar strength as well  fresh ECB dovishness  that tied the Paris Attacks to downside risks and monetary policy.

German  business sentiment suffered due  to the Volkswagen crisis as well as the inability of the euro-zone to stage a  significant recovery. The indicator has been falling for long months.

Later today we have the inflation figures from the US, and this could test USD strength.

In our latest podcast we discuss the December decision driving  the dollar,  declining oil and more:

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Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.