EUR/USD: Trading the German ZEW Investor Confidence Survey

The German ZEW investor confidence survey is expected to improve for the seventh consecutive month in May as economists forecast the index to increase to 20.0 from 13.0 in the previous month however, as the current outlook for the economy is expected to hold near its lowest level since 2003, fears of a deepening downturn could weigh on the exchange rate as region faces its worst recession in over half a century.