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.

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
Subscribe
Please try again
More View more
Euro Temporarily Rises on Improved German Business Climate

Euro Temporarily Rises on Improved German Business Climate

Benjamin Spier, Technical Strategist

THE TAKEAWAY: German business climate survey rises to 106.2 in July -> German PMI’s also reported higher in July -> Euro temporarily rises

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

The Euro temporarily rose against the US Dollar following a better than expected IFO survey of the German business climate.

The survey of German firms regarding the business climate was reported at 106.2 for July, beating expectations and up from 105.9 in June. The expectations survey declined slightly to 102.4, disappointing expectations for the survey result to remain at 102.5 for a second month. The current assessment survey rose to 110.1 from 109.4 in June.

The better than expected IFO survey follows yesterday’s release of German Purchasing Managers’ Index for July. Both PMI’s were reported better than expected and higher than the 50.0 neutral line. The index results bode well for Euro investors looking for improved economic expansion in Q3 in the Euro-zone’s biggest economy.

The Euro is trading around 1.3200 against the US Dollar at the time of this writing. The pair may continue to see resistance around the 1.3250 level, and support may be provided by a broken resistance line around 1.3180.

New to EUR/USD trading? Watch this video

EURUSDDaily: July 25, 2013

Euro_Temporarily_Rises_on_Improved_German_Business_Climate_body_eurusd_daily_chart.png, Euro Temporarily Rises on Improved German Business Climate

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