19 Nov 2013
EUR/USD remains flat on the day on choppy trading
FXstreet.com (London) - The euro has struggled to make gains today, despite strong consumer confidence numbers from ZEW, the German think tank.
The ZEW index increased for the fourth month in a row, to 54.6 from 52.8 in October. The latest consumer confidence number is the highest since October 2009.
But while consumer confidence is on the up, the current assessment component of the report from the ZEW institute showed a fall from 29.7 to 28.7.
The overall positive sentiment will be good news for those reliant on Germany to fuel any form of European economic growth. While the Eurozone as a whole struggles to fight out of flat lining growth, Germany has produced steady macro results. However, the fall in the current assessment component signals that Germans remain concerned about the issues in the wider Eurozone, as well as US concerns.
EUR/USD is currently trading at USD1.3502 on choppy trading, flat on the day so far.
The ZEW index increased for the fourth month in a row, to 54.6 from 52.8 in October. The latest consumer confidence number is the highest since October 2009.
But while consumer confidence is on the up, the current assessment component of the report from the ZEW institute showed a fall from 29.7 to 28.7.
The overall positive sentiment will be good news for those reliant on Germany to fuel any form of European economic growth. While the Eurozone as a whole struggles to fight out of flat lining growth, Germany has produced steady macro results. However, the fall in the current assessment component signals that Germans remain concerned about the issues in the wider Eurozone, as well as US concerns.
EUR/USD is currently trading at USD1.3502 on choppy trading, flat on the day so far.