Economic data expectations in the Eurozone are at a low point
That any upside surprise could easily springboard the single currency to perform better in the coming weeks/months. That said, the outlook itself isn't too bright with US-China trade tensions still not resolved and potential auto tariffs still lurking just around the corner.
But considering how poorly economic data has performed since last year, market expectations for any rebound or a positive turn in the region's economy are pretty much almost non-existent. Not only that, such an event isn't even priced in at all by markets at this point.
Hence, any positive surprise from economic data will bode well for the single currency down the road. However, that's a very tough ask but something to be aware of as to how skewed market expectations currently are.
