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German data missed expectations and the EUR/USD is falling sharply, currently trading at 1.1050. Analysts at TD Securities detail the German ZEW survey numbers.

Key quotes

“The German ZEW survey came in far below expectations, with the Current Situation Index falling almost 30 points to -43.1 and the Expectations Index falling almost 60 points to -49.5.”

“Sharp declines were recorded across every sector in the survey with IT the only sector still in positive territory.”