November’s ZEW survey is the main release to watch in the eurozone’s calendar today. EURUSD has surpassed the 1.04 level and could reach 1.05, according to economists at ING.

Eyes on ZEW

“ZEW expectations are for a generalised improvement on the back of lower energy prices.”

“EURUSD strength is largely a USD story, and any support to the euro appears largely driven by energy prices if anything.” 

We could see another leg higher in the pair over the coming days, and 1.0500 could be at reach, even if we expect a relatively fast descent over the winter.”

See: EURUSD to advance further in case of a solid recovery of the ZEW index – Commerzbank