German business climate data

• German business expectations index, fact 94.2, forecast 97.0.
• German current assessment , fact 104.3, forecast 104.2.
• German IFO business climate index, fact 99.1, forecast 100.7.

The business climate in Germany continued to slow down in January 2019, dropping to the lowest values ​​of 2016, confirming fears of a slowdown in the German economy, which had previously put pressure on the euro.

Fig. 1. Graph of the business climate index IFO Germany

 

Weak data for Germany, in turn, limited the upward trend of EUR/USD. As a result, it may indicate a slowdown in the correction against the decline and the formation of the day’s high near the resistance 1.1330-40. At the same time, it is worth noting that the upward trend in this pair remains in conditions of oversold euro against the dollar on higher timeframes.

Fig. 2. EUR/USD chart. Current price – 1.1320

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