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Mixed German ZEW index sees EUR/USD edge just a little higher

The February German ZEW index of economic sentiment was expected to show an improvement, from 15.2, to around 17.5. The current conditions were also expected to improve from the prior -79 reading. The actual data has shown an improvement in the index, to 19.9, but the current conditions have deteriorated, to -81.7, from -79. The reaction in the markets has not really delivered much of a change, as one might expect given this contrasting data. The commentary accompanying this report has also noted a further deterioration in the current economic situation. Naturally, as important as this data is, it is not as important as the US CPI data this afternoon and the lack of dynamic reaction in the EUR/USD is surely explained by that. The EUR/USD trading at 1.0765 ahead of the ZEW report. It is just now trading at 1.0770

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