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EUR/USD unmoved so far after ZEW misses estimates
The German May ZEW economic sentiment index has just been released. As noted earlier, the markets were looking for some improvement in the current conditions and future expectations. Now ahead of this release, the EUR/USD had been tracking a little lower, edging back towards 1.0715. The ZEW index has come in below expectations and on both the headline number and the current conditions. The HICP inflation data has not changed and remains unrevised from the previous readings. The ZEW data is poor and the institute has stated that conditions have stagnated. The EUR/USD has not actually fallen on this news, which is a little perplexing, but not unusual when it comes to this data. That said, the news does not exactly endorse further gains for the EUR/USD either. The EUR/USD is currently trading at 1.0716
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