The euro mirrored sterling’s strong performance against the greenback yesterday.
It’s not been since March that the key German consumer confidence survey – the ZEW – has been this high. The index rose by almost 5 points more than had been expected. It’s now at 9.8, indicating a solid majority of respondents have a more positive than negative opinion of the country’s economic outlook.
The Ifo business climate survey will be published next week, so we should be able to read the temperature from a German corporate perspective before long.
EUR/USD: the past year
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