Forex Flash – disappointing ZEW – TD Securities

FXstreet.com (London) - Research teams for TD Securities have said the disappointing German survey data overnight tells the market that activity probably won’t be improving in May, and that is obviously not EUR positive. However, they have said that the near term direction for EUR/USD may not rely on European developments and could come down to what happens with the US data trends in the coming days. They suggest that the focus for the pair has clearly shifted to the downside now, and on a potential break below the mid-1.29 area.