IFO Business Climate disappoints – EUR/USD slides

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The German IFO Business Climate advanced to 107.7 points, falling short of expectations to rise from 107.6 to 108.4 points. The Current Assessment component also disappointed by dropping from 112 to 11.4, below 112.5 expected. The Expectations component advanced a bit more than expected: from 103.3 to 104.2 points. The headline figure, business climate, disappointed, and this has the strongest impact.

EUR/USD was moving slightly higher before the publication, rising to 1.3513, and is now falling below 1.35. — updates coming —

The pair struggled with the 1.35 line at the wake of the new week. It didn’t really know how to react to the German elections. Draghi’s open door to a new LTRO.

However, the lower chances of an “Octaper”, as telegraphed by FOMC members, limited the gains of the dollar and the fall of EUR/USD.

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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 the 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.

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