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Euro Little Changed Against Dollar Despite Worst Than Expected Data

ByDailyfx
Published 03/26/2014, 01:16 AM
Euro US Dollar
-0.11%

Talking Points:

  • German IFO Business Climate 110.7 in March vs 110.9 Estimates
  • Euro Rises Little-Changed Against US dollar Despite Worse-than-Expected Data
  • Focus Shifts to Germany’s Flash March CPI Release Due Later This Week

Germany’s IFO survey of business confidence showed sentiment fell for the first time after a five-month consecutive rise. The headline Business Confidence gauge missed expectations calling for a print of 110.9, and reported at 110.7 in March (one month low). The Euro dipped on the worse-than-expected survey numbers, but quickly recovered to familiar overnight ranges. DailyFX Strategist Ilya Spivak says limited follow-through is a result of the outcome’s limited implications for near-term monetary policy.

Moreover, Mario Draghi may decide to wait for the outcome of the Asset Quality Review (AQR) before making a policy move. Despite Euro’s resilience to a low-inflation environment traders may look to Friday’s preliminary set of Germany’s March Inflation data for further volatility.

EUR/USD Chart

EUR/USD Chart

Original post

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