The economic sentiment report, as measured by the ZEW institute, rose to 25.6 for January, beating estimates of an increase to 16.3.
In December, the index was at 11.2. The increase was largely due to the easing trade tensions between Washington and Beijing. Germany’s economic sentiment index was also higher at 26.7 for January.
EUR/USD Trades Flat for a Second Day
The common currency gave up the intraday gains as it rose to highs near 1.1113. However, unable to hold on to the gains, the EURUSD is trading flat.
The consolidation is happening near the support area of 1.1100. This could indicate a possible move lower to the 1.1072 level, marking the lower end of the support area.
