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EUR/USD edges above 1.09 ahead of ZEW index release
As covered here earlier this morning, the major European economic release of the day is looming now. At 9am GMT we get the latest (July) German and Pan-European ZEW economic sentiment index. The index is forecast to come in lower this month, at around 42 from 47 previously reported. The current conditions index is forecast to deteriorate slightly, to around -74.5 from -73.8 in June. Ahead of this report, the EUR/USD has been edging higher and just now managed to vault the 1.0900 handle again. The high seen so far has been set at 1.0903. The Euro can react to this data, but much will depend on how much wide of the mark that turns out to be and it is worth mentioning; that sometimes the reaction can be rather underwhelming. The EUR/USD is currently trading at 1.0900
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