The main currency pair is moving to the upside on Monday after Germany published some impressive statistics.
The EUR/USD pair is rising on Monday afternoon. The current quote for the instrument is 1.1263.
Today, Germany published some interesting statistics, which supported the Eurocurrency. The Ifo Business Climate Index in September increased up to 109.5 points after the revised number of 106.3 points in August. The current number is the highest over the last two years and indicates that the country’s economy recovered after the summer disturbances. This refers to the first reaction of the business to the results of the British referendum. Uncertainty doesn’t scare the German business anymore; the components of the report show that the German companies are planning their future rather actively.
So, the IFO business expectations in September increased up to 104.5 points against 100.1 points in August. The IFO current assessment is now 114.7 points against 112.8 points the month before.
At the same time, the Euro is rising “a contrario” as the US Dollar is getting weaker after another debates of the candidates for presidency on the American TV. It’s less than a month left until the elections and the influence of the politics on the main currency pair is getting stronger.
Today, the USA is going to publish the statistics relating to new build sales in August. However, the market will very carefully follow the speech of the ECB governor, Mario Draghi.
RoboForex Analytical Department
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.