The euro is getting some help today, thanks to the latest German ZEW data. The latest sentiment data offers a high not since for more than three years, and that is providing support for the euro, even as Forex traders start to shift their focus toward the Federal Reserve meeting in the United States.
The latest German ZEW economic sentiment poll headed up to 49.6 for September. This represents a huge jump from 42 in August, and handily beats the expectations of a rise to 46. The news is helping the euro, since the 17-nation currency is often supported by the news related to the eurozone’s largest and most influential economy.
Germany continues to help keep the eurozone’s economy moving forward, helping the region emerge from a recession in the second quarter. The news is also providing some more support for Chancellor Angela Merkel, who is running for a third term. Her efforts to help save the euro are likely to continue if she is re-elected in Sunday’s elections.
For now, the euro is seeing some help in Forex trading, although its gains are limited. A lot of focus is on tomorrow’s Fed decision.
At 15:53 GMT EUR/USD is up to 1.3356 from the open at 1.3334. EUR/GBP is up to 0.8398 from the open at 0.8388. EUR/JPY is up to 132.4885 from the open at 132.1200.
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