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EUR/USD unimpressed so far even as German ZEW beats forecasts-

The German ZEW index has just been released and it has beaten forecasts. The index has risen to 31.7 which is well above the 20.5 that was forecast. The current conditions index has also improved slightly, to -80.5 from -81.7. The market was expecting a reading of -82. A slightly more upbeat narrative from the ZEW institute has accompanied this report too. However, the EUR/USD, which had already fallen below the noted 200 day moving average (1.0840) is still struggling to rise back above that level. So, there are immediate questions, as to whether this data was good denote to alter the direction for the Euro and the dollar right now. The low ahead of the ZEW was set at 1.0835. It is currently trading at 1.0841

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