Search ForexCrunch

The yield on the 10-year German 10-year Treasury bond dropped below the 0% line today and weighed on the shared currency, dragging the EUR/USD pair back below the critical 1.12 handle. At the moment, the pair is trading at 1.1187, losing 0.35% on a daily basis.

Earlier today, the headline German IFO business climate index dropped to 99.2 in April from 99.6 in March and fell short of the market estimate of 99.9, reminding investors of the economic slowdown in Europe’s biggest economy. Commenting on the IFO survey results, the institute’s chief economist said that the industrial sector was dragging down the economy and noted that the EU’s decision to delay Brexit did not help the German business climate.

EUR/USD technical levels