We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.52%, while traders in US 500 are at opposite extremes with 74.73%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/2zuDQFrljo
  • Fed Discount-Rate Meeting Minutes: - Directors reported noteworthy declines to economic activity, particularly in retail, tourism, and travel industries - Several directors expect jobless rate to increase further in coming months $DXY $SPX
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.48% US 500: 0.58% FTSE 100: 0.16% Germany 30: -0.05% France 40: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/qJvZxDmmST
  • Dow Jones Index strength continues in afternoon trading, as recovery hopes spur risk appetite $DJI https://t.co/4M6CoMdyGn
  • $USDCAD dives to lowest level since March 15 on USD weakness https://t.co/8abAuksdMo
  • #Equities: US futures on the front-foot with market participants returning from their elongated break, which in turn sees the S&P 500 pierce the psychological 3000. Get your #equities market update from @JMcQueenFX here: https://t.co/7O447VkToZ https://t.co/TyXEaPVnbb
  • LIVE NOW: Join @JStanleyFX as he runs through price action set-ups for the FX and CFDs market. https://www.dailyfx.com/webinars/1338844901231735299
  • it's time for the webinar, starting right now https://www.dailyfx.com/webinars/1338844901231735299 https://t.co/gLQFjotDmG
  • Senate Majority Leader McConnell says drop in revenue for States a concern, but national debt is also concerning- BBG
  • LIVE IN 5 MINUTES: Join @JStanleyFX as he runs through price action set-ups for the FX and CFDs market. https://www.dailyfx.com/webinars/1338844901231735299
Euro Fails to Pop on a Surprise German IFO Survey Amid Risk-Off Markets

Euro Fails to Pop on a Surprise German IFO Survey Amid Risk-Off Markets

2013-08-27 08:58:00
Benjamin Spier, Technical Strategist
Share:

THE TAKEAWAY: German IFO Business Climate Survey rises to a 16-month high -> German economy may continue towards a predicted year-end recession -> Euro declines along with equities

Want to trade with proprietary strategies developed by FXCM? Find out how here.

The Euro ignored a 16-month high in the IFO German Business Climate Survey and fell 50 pips against the US Dollar, possibly due to Syria related risk aversion across global markets.

The business climate survey for August was reported at 107.5, beating expectations for 107.0 and higher than 106.2 in July. The IFO expectations survey rose to 103.3 from 102.4, while the current assessment survey rose to 112.0 from 110.1.

The higher business climate supports a Bundesbank prediction for a recovery in the German economy for the rest of the year. The economy expanded by 0.7% in Q2, after unchanged GDP in Q1, but the Bundesbank also warns of a possible slowdown in the current summer. Signs of improved economic performance in the Euro-zone’s biggest economy are Euro positive.

There weren’t any other major releases during the European session. Towards the end of the session, Fed’s Williams and ECB’s Coeure will be speaking in Sweden, possibly triggering EUR/USD volatility in a time when both central banks’ actions are being heavily scrutinized.

The Euro is trading below 1.3350 against the US Dollar at the time of this writing, and the pair may see support around 1.3328, by an upward trend line from July. A six month high at 1.3451 may provide resistance.

New to Forex? Watch this video

EURUSD Daily: August 27, 2013

Euro_Fails_to_Pop_on_a_Surprise_German_IFO_Survey_Amid_Risk-Off_Markets_body_eurusd_daily_chart.png, Euro Fails to Pop on a Surprise German IFO Survey Amid Risk-Off Markets

Chart created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.