EUR/USD extends losing streak to test one-week low

Euro slipped in last session, adding to recent set of losses. Latest data showed that German economic confidence weakened in February after a strong rebound at the start of the year. The ZEW indicator of economic sentiment dropped to 58.3 in February from 59.6 in January, which was the highest since July 2021. This pulled EUR/USD pair towards 1.1800 mark. The pair fell around half a percent yesterday and currently quotes at 1.1805, almost unchanged on the day. This is the lowest level in nearly two-weeks for the EURO.

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