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Euro could ignore weak Ifo data

Euro could ignore weak Ifo data


Updated October 25, 2023 at 3:16 a.m. ET

07:07 GMT – The potential for a negative surprise for the euro from German Ifo business climate data at 08:00 GMT is limited after disappointing purchasing managers’ indices weighed on the currency on Tuesday, Sonja Marten said, analyst at DZ Bank Research, in a note. EUR/USD is trading sideways in the 1.06-1.07 area and is not expected to fall too much, she says. “Overall, we stand by our assessment that the EUR/USD correction has exhausted its potential,” she says. However, the driver for a sustained rise in EUR/USD will have to come from the United States in the form of a significant deterioration in real economic data, she says. EUR/USD was last trading flat at 1.0590. (emese.bartha@wsj.com)

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With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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