The German Ifo Business Climate disappointed and fell to exactly 100 points, falling short of expectations. A small rise from 101.4 to 101.5 points was expected, especially as the ZEW indicators surprised to the upside. EUR/USD extends its falls and loses the 1.2960 line, as more signs of German weakness appear. The pair now trades at 1.2935. It was flirting with the 1.30 line earlier in the day. Purchasing managers’ indices for all the euro-zone fell short of early expectations, especially in the manufacturing sector which dropped from 46.1 to 45.3 points, short of a rise to 46.6 that was expected. However, it wasn’t surprising after German PMIs disappointed. Europe’s second largest economy, France, saw an improvement in PMIs. In the services sector, PMI rose from 46.1 to 46.2, a bit below the expected rise to 46.5 points. The composite index now stands on 45.8 points. EUR USD Loses Support on Weak IFO – Click to enlarge EUR/USD has been sliding since the failed EU Summit, where a banking union was pushed back to some distant date in the future. For more, see the EUR/USD forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next GBP/USD: Trading the British GDP October 2012 view Kenny Fisher 10 years The German Ifo Business Climate disappointed and fell to exactly 100 points, falling short of expectations. A small rise from 101.4 to 101.5 points was expected, especially as the ZEW indicators surprised to the upside. EUR/USD extends its falls and loses the 1.2960 line, as more signs of German weakness appear. The pair now trades at 1.2935. It was flirting with the 1.30 line earlier in the day. Purchasing managers' indices for all the euro-zone fell short of early expectations, especially in the manufacturing sector which dropped from 46.1 to 45.3 points, short of a rise to 46.6 that was… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
