The EURUSD pair is trading higher by some 0.12% in Asia with the euro catching a bid as it attempts to correct vs the greenback in what appears to be ‘wait and see’ market conditions unfolding. The bulls moved on the lows of Monday’s trade and stay in control through Asia, despite Russian invasion jitters and a wobble in Asian equities.
Asian share indexes have fallen on Tuesday as investors contemplated the implications of a potential imminent Russian invasion of Ukraine. There were plenty of headlines swirling over financial markets at the start of the week that caused a tense atmosphere in both European and US sessions.
Looking forward for today, there will be a series of important data and we will have another look at the ZEW survey of expectations that has recently rebounded firmly above average. Analysts at Westpac say that this is ”indicating that omicron disruptions are expected to only temporarily slow growth prospects.”
Another key release will come in the form of the second estimate for Q4 Gross Domestic Product that the analysts at Westpac say ”will confirm the slowing of year-end activity for the region (market f/c: 0.3%).”
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