Germany: The EUR/USD situation after IFO |
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The Eurodollar reacted very strong to the Ifo Institute Index, which increased to 103.5 points in May from 102.4 points in April (which by the way was the lowest reading since January of 2006 when it was at 101.9). The reading is much better than expectations since analysts forecasted a drop to 102 points. The EURUSD reacted immediately with a strong increase from 1.5642 all the way to 1.5735. The importance of the Ifo report is that it confirms the increasing trend of the euro, seen for the
Filed under: Fundamental
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