When is the German ZEW survey and how could it affect EUR/USD?

German ZEW Survey Overview

The Zentrum für Europäische Wirtschaftsforschung (ZEW) will release its German Economic Sentiment Index and the Current Situation Index at 09:00 GMT later on Tuesday.

The ZEW Survey - Economic Sentiment Index is expected to come in at 40.5 in October, against the 37.3 reading that came in September. Meanwhile, the Current Situation Sub-Index is expected to improve to -75.0 in the reported month, up from the previous reading of -76.4.

How could the German ZEW Survey affect EUR/USD?

The EUR/USD pair may receive some support if German ZEW Survey data come better-than-expected. Any downbeat would strengthen the downward pressure on the pair, with ongoing political unrest in France. Traders also await the speech from US Federal Reserve (Fed) Chair Jerome Powell later in the day.

President Emmanuel Macron reappointed Sebastien Lecornu as Prime Minister, who has since formed a new cabinet. However, opposition leaders Marine Le Pen and Eric Ciotti have already filed a no-confidence motion in an attempt to oust Lecornu's government. Furthermore, Lecornu will present the draft 2026 budget to his new cabinet on Tuesday.

Germany's final inflation data for September did not able to put any impact on the EUR/USD pair, with Harmonized Index of Consumer Prices (HICP) rising 2.4% year-over-year, as expected. The monthly inflation remained consistent at 0.2% in September.

Technically, the EUR/USD pair hovers around 1.1570 at the time of writing. The bearish bias prevails as the 14-day Relative Strength Index (RSI) remains below the 50 level and prompts the pair to test the two-month low of 1.1542.

On the upside, the primary barrier lies at the nine-day Exponential Moving Average (EMA) of 1.1627, followed by the 50-day EMA at 1.1671. A break above these levels would improve the price momentum and support the EUR/USD pair to approach the monthly high of 1.1778.