Euro halts its advance ahead of the German ZEW report,

Although EURUSD did manage to break above 1.3 yesterday, it did not, as I suspected on my last post, managed to advance beyond 1.3080. Still, this morning we are not trading far from 1.3, and a second try upwards is still in the cards.

Attention this morning is set on the ZEW report which will be released at 10:00 GMT,
The ZEW report is a Survey of 350 German institutional investors and analysts which asks respondents to rate the relative 6-month economic outlook for Germany, when an Above 0 indicates optimism, and below 0 indicates pessimism.

Analysts forecast a -7.7 , down from last month’s -5.8, a worse than expected result could cup the Euro’s recent advance. If the EURUSD will not find enough steam to lift itself above 1.3 today, we can expect a retrace downwards possibly to meet the first support level at 1.2863.

also , pay attention to the U.S reports coming later in the day.

- Building Permits 12:30 GMT

- PPI m/m 12:30