Following the exit of the final German IFO business survey, institute economist Klaus Wohlrabe said the economy was looking for a recovery. Additional quotes “The climate has improved in construction, retail and services.” “Particularly pronounced improvement of the climate in industry.” Production plans have been significantly revised upwards. “Travel agencies and tour operators are slightly..
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Economist from the German IFO: Economy geared towards recovery.
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German IFO Business Climate Index beats estimates with 92.4 in February, EUR / USD regains 1.21
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The German IFO Business Climate Index stood at 92.4 in February. IFO’s current economic valuation stood at 90.6 this month. The German IFO expectations index in February came in at 94.2. more soon …. About the German IFO The IFO Business Climate Index was rebased and recalibrated in April after the IFO Research Institute changed..
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Two reasons why the current slide turns into a recovery
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EUR / USD was down as US yields pushed the dollar higher. Conversely, optimism about the global economy is boosting the euro. On Monday, comments from Germany’s IFO about the business climate and Fed Chairman Powell could send the pair higher, reports Yohay Elam, analyst at FXStreet. Key quotes “The German IFO survey in February..
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When is the German IFO poll and how could it affect EUR / USD?
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Overview of the German IFO Company Survey The German IFO survey for February is expected to be released later today at 9:00 GMT. The IFO business climate index is higher at 90.5 compared to 90.1 previously. The current valuation sub-index is expected to drop to 88.9 this month. 89.2 ahead while the IFO Expectations Index..
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Daily RSI teases bull reversal
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EUR / USD daily RSI chart plots a bullish reversal pattern. The pair have yet to cross the 50-day SMA hurdle. EUR / USD’s 14-day Relative Strength Index (RSI) created an inverted head-and-shoulders bullish reversal pattern. A break in the RSI would open the doors for a retest of the January high of 1.2349. The..
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The weakness of the broad dollar provides slight support for the euro
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Current price EUR / USD: 1.2116 US Federal Reserve policy makers consider that the risks of trade failures “remain considerable”. Activity in the service sector in the EU contracted further in February. EUR / USD has limited upside potential despite the dollar’s intrinsic weakness. Dollar sellers took control of the exchange board on Friday, with..
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The first priority is to fight the pandemic
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The first priority is to fight the coronavirus pandemic, the new Italian Prime Minister and the former President of the European Central Bank (ECB), Mario Draghi, said during his first speech in the Senate to present the political priorities. Additional comments Feel the pain of those who are suffering from the economic crisis. The government..
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EUR / USD to rebound to critical support at 1.2055
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EUR / USD fell sharply as rising US yields boosted the dollar. Nevertheless, the pair is expected to rebound to critical support at 1.2055, according to FXStreet analyst Yohay Elam. Key quotes President Joe Biden is working hard to promote his $ 1.9 trillion covid relief bill that could be approved as early as next..
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Fall to 10 days of SMA, extending Tuesday’s losses
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EUR / USD is trading near 1.2083, which is down 0.19% on the day. The daily chart shows a failed breakout and the possibility of further price decline. EUR / USD slipped to support from the 10-day Simple Moving Average (SMA) at 1.2086 shortly before press time, failing to hold gains above the 50-day SMA..
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EUR / USD moves away from three week highs, stabilizes around 1.2100
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EUR / USD made a sharp turn and turned around in the second half of the day. The US dollar index maintains modest gains above 90.50. The euro economy contracted 0.6% in the fourth quarter. The EUR / USD pair closed on the first day of the week and was little changed and gained ground..
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