Tomorrow 08-18-09 at 5:00 AM ET, three EUR reports will be released, these are:
EUR – German ZEW Survey Economic Sentiment
EUR – German ZEW Survey Current Situation
EUR – EURO-Zone ZEW Survey Economic Sentiment
These reports are released by the Centre for European Economic Research (ZEW)
The last time this released was on Tuesday 07-14-09 at 5:00 AM ET along with two other EUR reports, EURO-Zone Industrial Production, MoM and YoY.
The EUR – German ZEW Survey Economic Sentiment appears to have the greatest impact on the market.
Here is an idea what transpired last month:
EUR German ZEW Economic Sentiment Stats:
previous = 44.8
forecast = 48.0
actual = 39.5 down 8.7 from the “forecast” and down 5.3 from the “previous”.
bad for the EUR.
I monitor six currency pairs for these reports, EUR/CHF, EUR/GBP, EUR/JPY, EUR/USD, GBP/JPY and GBP/USD – EUR/USD was the only currency pair that reacted to the reports and moved against the EUR.
a one minute EUR/USD chart
This currency pair spiked down the first 3 minutes about 30 PIPS, reversed up about 24 PIPS in 22 minutes, then headed back down 21 PIPS in 26 minutes – not the best trade opportunity, but it could have been “scalped” a few PIPS.
Here is the set up for 08-18-09:
EUR German ZEW Economic Sentiment Stats:
previous = 39.5
forecast = 45.2
It appears that the economists believe the EUR economy will improve, if the report comes out higher than the “forecast” by say 10.0, the EUR/USD may move up a nice amount, however, if it comes out lower than the “forecast” by say 10.0, that currency pair may move down a nice amount.
Might be fun to watch, or, maybe even trade.
I will post a “follow up” soon after this report is completed and I can secure some spare time.
Stay tuned!
