In Tuesday, main currency pair is descending meagrely, investors analyze incoming news. In Tuesday, Euro/US Dollar ceding slightly. Most of trades are made around 1.1055 - it turns out that tool went not so far away from yesterday values.
According to provided today statistic data from ZEW Institute, German Ifo Business Climate dropped in July to -6.8 points against forecast of 9.1 points. This is the weakest values of indicator from 2012. In June, index was 19.2 points - drop is more that rush and deep. German business is sensitive to Great Britain decision to withdraw European Union. Considering that this is only first alike emotions, it is may be possible that further indicator will be evenkeel. But its position under middle line of 24.3 is meaning nothing good. The same indicator for Eurozone in July was -14.7 points.
Business does not know exactly what and how consider for long term prospect. Trading processes are not folded yet, and will be hardly folded - because business can count money like no other. But climate in sector will be composed for some time, maybe till September inclusively.
Today Euro descending may be more notable, if investors have not important event in the future - in coming Thursday, European Central Bank will has meeting, and market clearly prefers to "save forces" befor its ending.
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.