The Fundamental FOREX Blog

On Tuesday 08-18-09 at 5:00 AM ET, there were three EUR reports released, they were:

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 EUR – German ZEW Survey Economic Sentiment appears to have the greatest impact on the market.

On Monday 08-17-09, I wrote and posted a preview of this report, click here if you would like to read it.

Here is what transpired when the report was released on 08-18-09:

EUR German ZEW Economic Sentiment Stats:

previous = 39.5

forecast = 45.2

actual = 56.1

This was even better than forecast by 10.9 and a great improvement for the European Union – which meant, in all likely hood, that the currency market would move in favor of the EUR. And for the first few minutes it did.

I did make a small trade of the EUR/USD, if I had played out what I thought would happen, I would have had a losing trade, but since I am only gathering information at this time, I did close in time.

Here is my chart showing the trade.

a one minute EUR/USD chart

The only other currency pair which included the EUR that offered a short term opportunity to “scalp” a few PIPS in the first few minutes was the EUR/JPY – here is its chart.

a one minute EUR/JPY chart

The EURO against the CHF and GBP had very minor movement.

I did monitor the GBP/JPY and GBP/USD currency pairs and they did offer small “scalp” opportunities in the first few minutes after the report release – both pairs moved up. The GBP/JPY moved the most before reversing.

The next release of these reports will be on Tuesday 09-15-09 at 7:00 AM ET.

I will probably post a preview the day before – so…..
Stay tuned!