Forexlive European FX news wrap: German ZEW outlook jumps to a new cycle high

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Forexlive European FX news wrap: German ZEW outlook jumps to a new cycle high

• US Treasury Secretary Bessent: All options are available on China investments
• 's Novak: Global oil market is balanced now
• Germany March ZEW survey current conditions -87.6 vs -80.5 expected
• ECB's Rehn: Increased defence spending likely to support GDP growth
• says that Trump-Putin call will take place between 1300 and 1500 GMT
• ECB's Rehn: Risks to inflation outlook are two-sided
• US futures pare losses as the risk mood looks to hold up
• Gold bugs continue to buzz as the run higher clears $3,020
• European indices open higher in search of continuing the rebound this week
• Swiss government revises lower 2025 GDP forecast in latest projection
• What are the main events for today?
• China reaffirms stable trade relations with EU
• SNB purchased forex worth CHF 1.2 billion in 2024
• Risk mood reserves some caution to start the day
• FX option expiries for 18 March 10am New York cut
• HSBC raises forecast for China's 2025 GDP growth to 4.8% from 4.5% previously
• The central bank bonanza returns to town this week

The only notable release in the European session was the German ZEW survey where the expectations index jumped to a new cycle high amid the German fiscal boost and the ongoing ECB monetary easing.

Other than that, the newsflow has been limited with no market moving headlines. That's also been evident in the FX market as we haven't seen much movement with the major pairs roughly unchanged on the day. The weakest currency has been the Japanese Yen.

US stocks and bonds are slightly lower on the day as we approach the FOMC policy decision due tomorrow. The European equities, on the other hand, continue to outperform amid the fiscal boost.

The focus now moves to the Canadian CPI and the US housing and manufacturing data in the American session.

                            This article was written by Giuseppe Dellamotta at www.forexlive.com.

Source: Forexlive European FX news wrap: German ZEW outlook jumps to a new cycle high

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