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.
From other news, ECB’s Draghi, Nowotny and Coure held speeches today, but failed to spur any significant volatility.
Sentiment remains positive during the US session as stocks are quickly erasing last week’s losses, with the SP500 index up 1% and the Nasdaq index trading 1.5% stronger.
US yields moved higher as well, but not so substantially, while commodities were rallying on Monday as well. The dollar index was flattish heading into the London close, held mainly by the soaring USDJPY pair.
Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or an investment advice by TeleTrade. Indiscriminate reliance on illustrative or informational materials may lead to losses.
© 2000-2020. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at firstname.lastname@example.org.