Market Overview

26 November 2018 15:51

Peter Bukov

The single currency failed to hold intraday gains and dropped 30-40 from daily highs to trade relatively unchanged on the day during the US session, hovering near 1.1350. Earlier in the day, the German IFO surveys came out on the negative side when the business climate survey decelerated to 102.0 in November from 102.9 in October and the expectations (the most important subindex) slowed from 99.7 to 98.7. Both numbers came well below analysts’ forecasts. The current assessment gauge fell as well and printed 105.4 from 106.1 in the previous month.

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