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No EUR/USD bounce yet from slightly improved German ZEW index

The latest (January) German ZEW economic sentiment index has just been released. The markets were expecting data not far removed from what was seen in the December report. Ahead of this data the EUR/USD had fallen further below the 1.09 handle. The low seen ahead of the ZEW report was set at 1.0884. The ZEW data has revealed a better than expected outcome in terms of the outlook, but the current conditions are slightly below consensus. The current conditions are at -77.3. The outlook has improved to 15.2, from 12.8. The reaction in the EUR/USD to this has not delivered any kind of rebound yet. That seems to be because the data itself was probably not good enough to detract away from the reasons why the EUR/USD had fallen back in first place. The EUR/USD is currently trading at 1.0885 

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