[primarylogic]

EUR/USD has break 1.56 now!

After German Producer Prices increased at the fastest pace in 2 years, EURUSD recouped all of yesterday’s losses in early European trade but the rally was temporarily stymied by worse than expected reading from the ZEW survey indicating concern about future growth from the region’s investment analysts. The correction however, lasted all of 10 minutes as the pair skyrocketed once again after ZEW officials predicted that ECB will hike rates in the near future.