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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Bullish
Gold
Mixed
GBP/USD
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
USD/JPY
Bullish
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
More View more
Real Time News
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.68% Silver: 0.28% Gold: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/KLaO6iawft
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.41% 🇳🇿NZD: 0.39% 🇬🇧GBP: 0.22% 🇪🇺EUR: 0.08% 🇯🇵JPY: -0.01% 🇨🇭CHF: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/XJ4YXmLkHx
  • RT @DanielGMoss: #Silver Price Eyes Fresh 2020 Highs on $USD Weakness https://www.dailyfx.com/forex/market_alert/2020/07/15/Silver-Prices-May-Trek-Higher-on-Weakening-US-Dollar-and-Stimulus-Hopes.html
  • If you missed this week's session on IG Client Sentiment, check out the full recording on YouTube here - https://t.co/uVdyQTHnpn
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.82%, while traders in US 500 are at opposite extremes with 76.46%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ZW0P70iNI9
  • China reaffirms vow to sanction US officials over Hong Kong -BBG
  • $USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here:https://t.co/5GO9UrvO4y https://t.co/3x4BbsYUTg
  • The GBP/NZD, EUR/NZD exchange rates seem poised to reverse their respective 4-month downtrends as NZD/CHF struggles at key resistance. Get your market update from @DanielGMoss here: https://t.co/DZguLNJBjh https://t.co/duO4eIPHRj
  • “The $AUD is bracing for volatility, facing back-to-back local jobs & Chinese GDP data. Join Analyst @ddubrovskyFX for a unique double-data session as he covers and discusses the outlook for the Aussie tomorrow at 9:15 PM ET/1:15 AM GMT here - https://t.co/ECzthquv9Q https://t.co/Igm1MCeGNE
  • Heads Up:🇦🇺 Westpac Consumer Confidence Index (JUL) due at 00:30 GMT (15min) Previous: 93.7 https://www.dailyfx.com/economic-calendar#2020-07-15
Disappointing German IFO Survey Fails to Distract Euro Traders from Cyprus

Disappointing German IFO Survey Fails to Distract Euro Traders from Cyprus

2013-03-22 09:43:00
Benjamin Spier, Technical Strategist
Share:

THE TAKEAWAY: IFO business climate survey falls to 106.7 in March, following a 10-month high -> Bundesbank predicts economic growth in the current quarter -> Euro trading remains focused on Cyprus

The IFO German business climate survey declined for the first time in five months in March, after reaching a 10-month high in February. The business climate survey was reported at 106.7, disappointing expectations for 107.8 and down from 107.4 in the previous month. The IFO current assessment survey unexpectedly fell to 109.9 from 100.2 in February, and the IFO expectations survey fell to 103.6 from 104.6.

The results are based on IFO surveys of German firms, and the main business climate survey has not fallen below the neutral 100.0 point in three years.

The German economy is the Euro-zone’s biggest economy, and also one of the best performers through the Euro-zone debt crisis. The German GDP declined 0.6% in Q4, but the Bundesbank has predicted the country will see economic growth in the current quarter. Signs of further weakness in German economic growth are Euro negative.

That is why the Euro declined nearly twenty points and below 1.2900 against the US Dollar following the disappointing release. However, the Euro has recovered all those losses, as single currency traders remained focused on the Cyprus crisis. EUR/USD may now be seeing resistance at 1.2920, by a long term downward trend line from November 2011. A 200 day moving average may provide support around 1.2870.

EURUSD Daily: March 22, 2013

Disappointing_German_IFO_Survey_Fails_to_Distract_Euro_Traders_from_Cyprus_Concerns_body_eurusd_daily_chart.png, Disappointing German IFO Survey Fails to Distract Euro Traders from Cyprus

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.