Session Recap: Euro weighed by soft ZEW and Buba' story

FXStreet (Córdoba) - The euro weakened during the European session and fell to fresh lows versus the dollar and the yen following the release of disappointing ZEW data from Germany and the Eurozone. Meanwhile, a media report suggesting the German Bundesbank may be willing to back stimulus measures from the ECB triggered a stronger selloff.

The EUR/USD drop also put the pound and the franc under pressure against the dollar. Elsewhere, the yen and commodity currencies remain little changed as investors await US retail sales data for April.

The EUR/USD broke through Friday’s lows and printed a fresh 5-week trough of 1.3709, while the GBP/USD hit a 10-day low of 1.6824. Meanwhile the USD/CHF rose above 0.8900 and posted its highest in over a month at 0.8902.

Main Headlines in Europe:

Asia EM Express: India awaits election result, Chinese data confirms slowdown

What’s the sentiment around the EUR/USD today? Commerzbank and Scotiabank

European Monetary Union ZEW Survey - Economic Sentiment missed forecasts (63.5) in May: Actual (55.2)

Germany ZEW Survey - Economic Sentiment missed forecasts (41) in May: Actual (33.1)

New Australian budget favors business

Bundesbank source: Bundesbank open to significant ECB stimulus in June if 2016 inflation forecasts lowered - Dow Jones