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EUR/USD holds ground after mixed ZEW index
The German July ZEW index has just been released. Whilst the index itself missed on the headline reading it gained on the current conditions component. The index dropped back to 41.8, where the markets were expecting a reading of 42.5. The current conditions improved to -68.9 from -73.8 and that was an unexpected improvement. The initial reaction has seen the EUR/USD try to edge higher but it is yet to break any real fresh ground above the 1.0900 handle. At the same time the commentary from the ZEW institute was not positive at all and that might be why there is not yet any real traction for the Euro.
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