EUR/USD Pair Strengthens Amid Positive Economic Data

The EUR/USD pair is trading in positive territory near 1.1585 during early European trading hours on Wednesday, with the Euro edging higher against the US Dollar.

This comes after the German ZEW survey beat forecasts, coming in at 34.2 in August versus 26.3 prior and stronger than the expected 30.00.

The European Central Bank (ECB) Watch Tool indicates a high probability of a continuation of the ECB hiking cycle, with a 90% to 94% chance of a 25 basis points hike to 2.50% at the next policy meeting on September 9.