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EUR/USD Falls as ZEW Economic Sentiment Disappoints

April 17, 2018 by

EUR/USD slipped today as the ZEW Economic Sentiment Indicator for Germany came out far worse than was expected. The index for the whole eurozone was not good either. (Event A on the chart.) Meanwhile, US data released on Tuesday was pretty solid.

Both housing starts and building permits rose in March. Housing starts were at the seasonally adjusted annual rate of 1.32 million, compared to the February reading of 1.30 million and the predicted value of 1.27 million. Building permits were at the seasonally adjusted annual rate of 1.35 million versus the forecast 1.33 million and the February figure of 1.32 million. (Event B on the chart.)

Industrial production increased 0.5% in March. That is compared to the forecast increase of 0.3% and the February gain of 1.1%. Capacity utilization increased 0.3 percentage point to 78.0%, close to the forecast value of 77.9%. (Event C on the chart.)

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