EUR/USD: Another lurch lower for the ZEW could break out the tentative bounce to 1.0750 – SocGen

Market news

12 September 2023

EUR/USD: Another lurch lower for the ZEW could break out the tentative bounce to 1.0750 – SocGen

EUR/USD is trading in around the 1.0750 mark. Economists at Société Générale analyze the pair’s outlook ahead of the German ZEW survey.

The primary deal rush shows no sign of abating

The German ZEW survey traditionally is not considered a market mover but the negative surprises from Germany this month suggest the opposite is true and another lurch lower for the ZEW could perhaps break out the tentative bounce in EUR/UD to 1.0750.

The primary deal rush meanwhile shows no sign of abating: another 11 IG borrowers in the US and 10 in Euro joining the September flurry yesterday including transactions by T-Mobile (USD) and Nestle (EUR).

Germany Wholesale Price Index (YoY) increased to -2.7% from previous -2.8%

Forex Today: US Dollar finds its feet amid cautious optimism

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