EURUSD climbed above the 1.08 mark last week, reaching the highest level since late-April 2022. However, the pair began to struggle after US CPI data release for December (Thursday, January 12) and has erased part of the previous gains. EURUSD continued to move lower in the following days and threatened to break back below the 1.08 mark. However, German ZEW data for January came to the rescue. ZEW expectations subindex leap from -23.3 to 16.9 (exp. -15.0). This was the fourth month of increases in a row and the expectations subindex is now sitting at the highest level since February 2022 (launch of Russian invasion of Ukraine). Situation looks less rosy when it comes to the Current Situation sub index as it has moved from -61.4 to -58.6 (exp. -57.0).
Solid beat in German ZEW expectations data helps EURUSD avoid a drop back below 1.08 mark. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
