This week, EUR/NZD is fundamentally tilted toward the sell side. The eurozone features ZEW economic sentiment data and a speech from the Bundesbank president—events that could underscore ongoing economic weakness in Europe. Meanwhile, the New Zealand economic docket only includes sentiment and current account data, unlikely to produce major surprises.
If European data underwhelms or the Bundesbank takes a dovish tone, EUR is likely to remain soft. With the New Zealand dollar's fundamental backdrop stable and little in the way of local risk, the relative balance of scheduled events suggests downside potential for EUR/NZD.
**In summary:**
Macro and news-based factors both point to EUR/NZD favoring a sell bias this week, as the EUR faces more event-driven downside risk and NZD remains steady.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.