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.

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
Mixed
Oil - US Crude
Mixed
Wall Street
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The market’s preferred ‘fear indicator’ shows a persistent uncertainty around the near future. What can our current conditions and history tell us what to expect from the #VIX through the final two months of the year?https://t.co/jlhcFhH4sI https://t.co/zIrEjxqymJ
  • #Stock market performance is considered an important predictor of the economic outlook. What else can it be used to project? https://t.co/ViTMl19TW3 #Elections2020 https://t.co/methLCaBho
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: https://t.co/b9XwwYS9uJ https://t.co/8OIZVJnaD6
  • A #Euro reversal off technical downtrend resistance now risks a larger correction in price. Here are the levels that matter on the $EURUSD weekly chart. Get your #currencies update from @MBForex here: https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2020/10/31/Euro-Technical-Outlook-EURUSD-Breakdown-Aims-For-Multi-month-Lows.html?QPID=30472&CHID=9 https://t.co/iVhmCXi9EG
  • We are days away from the US Presidential election and the markets are caught in the vortex. A contested outcome would raise serious volatility for the markets whereas a decisive outcome seems to support bullish $SPX and Dollar views from the market rank. https://www.dailyfx.com/forex/video/daily_news_report/2020/10/31/SP-500-and-Dollar-Forecast-Leads-Global-Markets-with-Elections-Expectations-.html https://t.co/JnJbyu6TRT
  • The future implications of the #Elections2020 may influence $AUDUSD following the #RBA and #Fed rate decisions as Congress struggles to pass another round of fiscal stimulus. Get your #currencies update from @DavidJSong here: https://t.co/soPu0Wefz2 https://t.co/UWsERr2AYh
  • Gold prices declined in the aftermath of bearish technical cues, but a key zone of support was reinforced. $XAUUSD volatility risk is elevated ahead of the #Elections2020. Get your #metals update from @ddubrovskyFX here: https://t.co/gWOxdqk8OL https://t.co/gBMgF0YNjH
  • USD awakens, placing GBP/USD on the backfoot, while EUR/GBP cracks 0.90. Get your #currencies update from @JMcQueenFX here: https://t.co/fndMQJLul8 https://t.co/elz5gNAKrB
  • What are some factors impacting Euro’s forecast this quarter? Get your free forecast here: https://t.co/kpBYVz31Bd https://t.co/7EzMPg9Kqg
  • 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/DjMdgL5x19
EUR/USD Dips Below 1.2850 As German Business Confidence Disappoints

EUR/USD Dips Below 1.2850 As German Business Confidence Disappoints

2014-09-24 08:21:00
Edward Hyon,
Share:

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