{"id":104629,"date":"2020-09-15T09:00:04","date_gmt":"2020-09-15T08:00:04","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=104629"},"modified":"2020-09-15T08:24:37","modified_gmt":"2020-09-15T07:24:37","slug":"104291-eur-usd-euro-extends-gains-ahead-of-zew-sentiment-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104291-eur-usd-euro-extends-gains-ahead-of-zew-sentiment-data\/","title":{"rendered":"EUR\/USD: Euro Extends Gains Ahead of ZEW Sentiment Data"},"content":{"rendered":"<ul>\n<li><strong>Euro (EUR) is capitalising on the weaker USD<\/strong><\/li>\n<li><strong>BoF expected the French downturn to be less significant than initially expected<\/strong><\/li>\n<li><strong>US Dollar trades lower on rising risk sentiment<\/strong><\/li>\n<li><strong>Vaccine optimism, deal making and encouraging Chinese data are boosting the mood<\/strong><\/li>\n<\/ul>\n<p>The Euro US Dollar exchange rate is gaining altitude for a second straight session on Tuesday. The pair settled +0.2% at US$1.1868 on Monday. At 07:15 UTC, EUR\/USD trades +0.25% as it attempts to break above US$1.19.<\/p>\n<p>The Euro lifted on Monday after the Bank of France estimated that the French economy will contract by 8.7% owing to the coronavirus crisis, less than initially feared. The central bank has forecast a -10.3% slump. The BoF said that second quarter shock was less severe than expected, lifting the annual reading.<\/p>\n<p>Investors will now look towards the German ZEW sentiment survey which is expected to show a strong improvement in morale surrounding the current situation, although concerns over forward expectations are picking up.<\/p>\n<p>An upbeat mood in the market is dragging on demand for the safe haven US Dollar. Instead investors are looking for riskier assets and currencies.<\/p>\n<p>Vaccine optimism continues to lift the markets\u2019 spirits for a second session. On Monday AstrZeneca said that it had restarted covid vaccine trials after briefly pausing them. Pfizer also proposed expanding their covid vaccine testing in include more people.<\/p>\n<p>Deal making on Wall Street is also boosting sentiment and lifting demand for US stocks.<\/p>\n<p>Chinese data is also supportive of the mood. Chine industrial output increased by 5.6% in August year on year. This was its fifth straight month of growth. Chinese retail sales, grew for the first time this year, up +0.5% on an annual basis in August. This shows that Chinese consumers are starting to step up their spending following the coronavirus crisis.<\/p>\n<p>Attention will now turn to the Federal Reserve\u2019s monetary policy announcement tomorrow. The Fed are not expected to adjust monetary policy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Euro (EUR) is capitalising on the weaker USD BoF expected the French downturn to be less significant than initially expected US Dollar trades lower on rising risk sentiment Vaccine optimism, deal making and encouraging Chinese data are boosting the mood The Euro US Dollar exchange rate is gaining altitude for a second straight session on [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5505,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[3276,1395,1393,1397,1398,1527],"class_list":{"0":"post-104629","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-usd","9":"tag-chinese-retail-sales","10":"tag-eur","11":"tag-euro","12":"tag-us-dollar","13":"tag-usd","14":"tag-zew-sentiment"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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