The EUR/USD exchange rate was slightly affected by the German economic figures to rise modestly to the 1.1987 mark. However, some hours later the pair showed a 0.30% volatility finishing in the 1.197 area, as news agencies' posted reports suggested that the European Central Bank could postpone its decisions on monetary tapering towards December due to the strength of the European single currency.
An upbeat figures coming from Germany managed to sustain relatively strong position of the Euro. The ZEW survey revealed that the country's business sentiment improved more than anticipated to 17 points this month. Meanwhile, the evaluation of the current situation was also more optimistic with the index edging up to 87.9.
| Historical Data Table: German ZEW Economic Sentiment | |||||
| Date | 16.05.2017 | 13.06.2017 | 18.07.2017 | 22.08.2017 | 19.09.2017 |
| Actual | 20.6 | 18.6 | 17.5 | 10 | 17 |
| Forecast | 22.3 | 21.6 | 17.8 | 14.8 | 12.3 |
| Initial Reaction on Main Pairs | |||||
| Open Price | Close Price | % Change | |||
| EUR/USD | 1.19846 | 1.19873 | 0.02% | ||
| EUR/GBP | 0.88935 | 0.88863 | -0.08% | ||
| EUR/CHF | 1.15216 | 1.153 | 0.07% | ||
| EUR/JPY | 133.701 | 133.808 | 0.08% | ||