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EUR/USD edges slightly higher following mixed German November ZEW index
The German November ZEW economic sentiment index has just been released. As covered here earlier today, the markets were looking for an improvement in this data, in both the current conditions and future expectations. Well, that is exactly what happened in terms of the future expectation, with that rising to 9.8, from a forecast of 5. However, the current conditions were lower, at -79.8. Ahead of this release the EUR/USD had been pressing a little higher, rising above 1.07 and towards 1.0720. The reaction in the Euro has seen it edge a little higher, but of course whatever reaction we have seen from this release is likely to tempered, because of what comes later this afternoon, which is more important and in the form of the latest US CPI report. The EUR/USD is just now trading at 1.0717
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