EUR/USD to test 1.05 on upbeat German ZEW – ING

Today, the German ZEW will be watched closely. Improved economic sentiment could lift the EUR/USD pair to 1.05, economists at ING report.

All eyes on the ZEW

“The consensus expects some improvement in both the expectations and current situation surveys. This is unlikely to materially mitigate the market’s concerns about the upcoming slowdown in the eurozone economy, but may help EUR/USD climb back to 1.05 if risk sentiment stabilises.”

“On the European Central Bank side, we’ll hear from Isabel Schnabel, one of the central bank’s most hawkish members. Still, it will mostly be down to global sentiment to drive EUR/USD moves today.”