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- European session:
European session:
Data:
07:00 Switzerland KOF Institute Economic Forecast Quarter III
07:00 Switzerland SNB Quarterly Bulletin Quarter II
08:00 Germany IFO - Business Climate June 106.9 106.2 105.3
08:00 Germany IFO - Current Assessment June 113.3 112.0 113.9
08:00 Germany IFO - Expectations June 100.9 99.8 97.3
The dollar rode as equities fell and a report today showed German business confidence dropped to the lowest in more than two years, boosting demand for safer assets.
The business climate index for Germany, based on the Ifo institute’s survey of 7,000 executives, slid to 105.3 from 106.9 in May. Economists predicted a decline to 105.6, according to the median estimate in a survey.
Data yesterday showed euro-area manufacturing shrank at the fastest pace in three years, and a gauge of Chinese industrial output indicated contraction. More Americans than forecast filed claims for jobless benefits, manufacturing in the Philadelphia region shrank and sales of existing homes fell, reports The yen weakened as Japanese lawmakers in the lower house prepared to vote on a bill to double sales tax.
EUR/USD: during the European session the pair was limited $1.2520 - $1.2565.
GBP/USD: during the European session the pair was limited $1.5580 - $1.5630.
USD/JPY: the pair showed high at Y80.55, then receded.
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