German Business Climate Data

• German Consumer Climate Index (Gfk) (November), fact 9.6, forecast 9.8.
• German Business Expectations Index (October), fact 91.5, forecast 91.0.
• Current Assessment in Germany (October), fact 97.8, forecast 98.0.
• German IFO Business Climate Index (Oct), fact 94.6, forecast 94.5.

Despite the mixed data on the business climate in Germany, general dynamics of this indicator remained restrained downward. This indicates a slowdown in business activity and an increase in pessimistic sentiment.

Fig. 1. German IFO Business Climate Index Chart

The dynamics of the euro is more dependent on general positive sentiment. The market regarded the restrained negative data on the business climate in Germany as neutral. As a result, the EUR/USD pair is trading with strengthening on the correction after the decline and on the growth of optimism on the stock exchanges. This pair is limited by resistance levels: 1.1130 and 1.1150, support: 1.1100 and 1.1080.

Fig. 2. EUR/USD chart

Read also: “Gold forms a reversal.
Correction before the resumption of growth “

Hanzenko Anton

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