Skip to Content
News & Analysis at your fingertips.

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. See our updated Privacy Policy here.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
Will the Euro Continue to Ignore Soft Data? German IFO on Tap.

Will the Euro Continue to Ignore Soft Data? German IFO on Tap.

Talking Points:

Germany’s IFO business confidence survey headlines the economic calendar in European trading hours. Sentiment is expected to have soured in July after the headline Business Climate index climbed to the highest level in nearly three decades in the prior month. An outcome echoing recently disappointing regional news-flow might have weighed on the Euro, but it has proven resilient in the face of soft data.

Indeed, yesterday’s price action seemed telling: the single currency pulled back from a two-year high set against the US Dollar but the move began conspicuously before a soft set of PMI figures crossed the wires. Last week, it was bold enough to shrug off a pointedly dovish ECB. This warns that traditional fundamentals are taking a backseat to other forces, at least for now. With that in mind, caution seems prudent.

The Australian Dollar outperformed in otherwise quiet Asian trade. The currency advanced inversely of a drop in US Treasury bond yields. The move appeared corrective after the Aussie fell as US borrowing costs edged up. In a broader sense, the relationship seems to speak to the Australian unit’s role as a yield-seeking alternative to the greenback amid cooling Fed rate hike speculation.

What do retail traders’ buy/sell decisions say about FX market trends? Find out here !

Asia Session

European Session

** All times listed in GMT. See the full DailyFX economic calendar here.

--- Written by Ilya Spivak, Currency Strategist for

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

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