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German ZEW falls to lowest in 2 years- EUR/USD slips (corrected)
The August German ZEW index has just been released and it has come in lower across the board. The index has come in at 19.2 compared to an expected reading of 32. All the other components have come in below estimates too and this is the lowest reading for the index in over 2 years. The EUR/USD has dropped back on this news, but in real terms not by that much yet. However, make no mistake, this was not a good report today and the Euro will do well to entirely shrug this data off. The EUR/USD is currently trading at 1.0916
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