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Currency Analyst since 2010

Negative news from the euro area

EUR/USD slid below $1.3090 as German ZEW economic sentiment came below expectations, at 27.1 vs. the forecast of 28.9 and the previous reading of 29.8. The index for the entire euro area has also missed forecasts coming at 61.8 vs. 62.3 expected, though this is higher than the previous reading of 58.4.

Yesterday the ECB president Mario Draghi echoed his comments from this month’s press conference repeating that the risks to the economic outlook are on the downside and that the regulator’s ready to use unconventional tools within mandate if needed.

 

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