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
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
Bullish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/atvVwOkBBh
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: -0.17% Silver: -0.29% Oil - US Crude: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/wIX18CsXWC
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.06% 🇳🇿NZD: -0.13% 🇪🇺EUR: -0.19% 🇨🇦CAD: -0.21% 🇬🇧GBP: -0.32% 🇦🇺AUD: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/1RgbvSFsvQ
  • 🇨🇭 Current Account (Q1) Actual: CHF 16B Previous: CHF -3B https://www.dailyfx.com/economic-calendar#2021-06-22
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.22% Wall Street: 0.21% France 40: 0.15% US 500: 0.12% Germany 30: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/bN9kT6l20O
  • Heads Up:🇨🇭 Current Account (Q1) due at 07:00 GMT (15min) Previous: CHF -3B https://www.dailyfx.com/economic-calendar#2021-06-22
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here: https://t.co/eILWbFgHRE https://t.co/nQ8XPAkiGr
  • 🇬🇧 Public Sector Net Borrowing (MAY) Actual: £-24.3B Expected: £-26.1B Previous: £-31.7B https://www.dailyfx.com/economic-calendar#2021-06-22
  • Heads Up:🇬🇧 Public Sector Net Borrowing (MAY) due at 06:00 GMT (15min) Expected: £-26.1B Previous: £-31.7B https://www.dailyfx.com/economic-calendar#2021-06-22
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/er7rtWCEP0
EUR/USD Dips Below 1.2850 As German Business Confidence Disappoints

EUR/USD Dips Below 1.2850 As German Business Confidence Disappoints

Edward Hyon,

Talking Points:

  • German IFO Business Climate (Sep): 104.7 Actual Vs 105.8 Estimated; 106.3 Prior.
  • German IFO Current Assessment (Sep): 110.5 Actual Vs 110.2 Estimated; 111.1 Prior.
  • German IFO Current Assessment (Sep): 99.3 Actual Vs 101.2 Estimated; 101.7 Prior.

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

The German IFO Business Climate Index came in at 104.7 in September versus 106.3 in August. It is the lowest reading since April 2013 and came short of market expectations of 105.8. Moreover, German IFO Expectations Index showed a print of 99.3 from 101.7 in the previous month. This is the lowest reading since December 2012 and exceedingly missed market forecasts calling for 101.2. Meanwhile, slight improvement in August German IFO Current Assessment Index as it crossed the wires at 110.5 from the consensus of 110.2. The country’s key business sentiment surveys uses 100 as a centerline between positive and negative outlooks. The further north the value is from 100 the stronger the sentiment and vice versa. Number above 100.0 bodes-well for the economy as it may indicate increased consumer spending and economic growth.

It was a very quiet trading session ahead of the data and the Euro continued to trade firmly below 1.2900 level against the US Dollar. Following the release, EUR/USD fell 15 pips lower to trade as low as 1.2849. In addition, German 10-year Government bond advanced with yield dropping 2 basis-points to 0.99 percent.

Looking ahead, US Durable Goods Orders in August is probably the most attention seeking economic release for the remainder of the week. It is expected to cross the wires on Thursday 25th of September at 12:30 GMT. The data displays the value of orders placed for relatively long lasting goods, usually more than three-years, and is a favorable gauge for future US output. It is expected to come in at -18.0 percent in August in comparison to 22.6 percent in July. The prior month’s reading was primarily driven by a surge of orders for civilian aircraft and, therefore, US Durables Ex Transportation would be the more closely watched indicator. This is expected to drop in at 0.60 percent for the month of August.

EUR/USD 5 Minute Chart

EUR/USD Dips Below 1.2850 As German Business Confidence Disappoints

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

New to FX? START HERE!

Edward Hyon, DailyFX Research Team

Keep up to date on event risk with DailyFX Calendar

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

DISCLOSURES