{"id":100435,"date":"2020-05-25T04:00:18","date_gmt":"2020-05-25T08:00:18","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100435"},"modified":"2020-05-25T05:20:27","modified_gmt":"2020-05-25T09:20:27","slug":"103276-eur-usd-euro-pressurised-ahead-of-german-ifo-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103276-eur-usd-euro-pressurised-ahead-of-german-ifo-data\/","title":{"rendered":"EUR\/USD: Euro Pressurised Ahead of German IFO Data"},"content":{"rendered":"<ul>\n<li><strong>German IFO sentiment index expected to rebound in May<\/strong><\/li>\n<li><strong>Austria, Denmark, Sweden and Netherlands oppose \u20ac500 EU recovery fund<\/strong><\/li>\n<li><strong>Cooling US \u2013 Sino tensions boost USD amid protests in Hong Kong<\/strong><\/li>\n<li><strong>At 08:00 UTC, EUR\/USD trades -0.2% at US$1.0880 &gt;&gt; <a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-to-usd-exchange-rate-today\/\">Real time exchange rate<\/a><\/strong><\/li>\n<\/ul>\n<p>The <a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> is under pressure at the start of the week, moving lower versus the US Dollar and paring some gains from the previous week. The Euro US Dollar exchange rate gained 0.8% across the previous week, closing on Friday at US$1.0902, down from the three-week high of US$1.1010 reached on Thursday.<\/p>\n<p>At 08:00 UTC, EUR\/USD is trading -0.2% at US$1.0880 ahead of German IFO sentiment data and amid rising US \u2013 China tensions. The US is closed today in observance of Memorial Day public holiday.<\/p>\n<div class=\"su-button-center\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-to-usd-exchange-rate-today\/\" class=\"su-button su-button-style-flat button-internalbutton\" style=\"color:#ffffff;background-color:#f92658;border-color:#c81f47;border-radius:5px\" target=\"_self\"><span style=\"color:#ffffff;padding:0px 22px;font-size:17px;line-height:34px;border-color:#fb688b;border-radius:5px;text-shadow:none\"> Check real time EUR to USD exchange rate<\/span><\/a><\/div>\n<p>The German IFO survey release for May will be closely watched.\u00a0 Analysts are expecting a slightly firmer reading of 78.3, up from 74.3 in April. \u00a0The uptick in sentiment comes as countries across Europe continue to ease lock down restrictions.<\/p>\n<p>Last week, the Euro finished on the front foot boosted by a French German agreement of a \u20ac500 billion European recovery fund, aimed at supporting those sectors and countries hardest hit by the coronavirus crisis. The agreement includes plans for joint debt, a significant change in European policy for both France and Germany. However, the plans are being objected by the more frugal northern countries of Sweden, Denmark, Austria and Netherlands.<\/p>\n<p>The safe haven US Dollar has eased back from earlier highs in the Asian session as relations with China continue to cool and as thousands of protestors took to the streets in Hong Kong.<\/p>\n<p>China formally tabled the national security laws for Hong Kong and Macau as the National People\u2019s Congress opened on Monday.<\/p>\n<p>Tensions were already running high between US and China. The situation in Hong Kong is just aggravating things further.<\/p>\n<p>Chinese foreign minister Wand Yi warned that the two powers were heading towards a new cold war after President Trump threatened strong action should the national security law be actioned.<\/p>\n<p>On Friday, the US Commerce Department added 33 Chinese companies to its blacklist.<\/p>\n<p>There is no US economic data due for release today. Sentiment will continue to drive the US Dollar. Investors will look ahead to the release of US consumer confidence and new homes data tomorrow.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>German IFO sentiment index expected to rebound in May Austria, Denmark, Sweden and Netherlands oppose \u20ac500 EU recovery fund Cooling US \u2013 Sino tensions boost USD amid protests in Hong Kong At 08:00 UTC, EUR\/USD trades -0.2% at US$1.0880 &gt;&gt; Real time exchange rate The Euro is under pressure at the start of the week, [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5296,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[1395,1393,1487,2782,1397,1398],"class_list":{"0":"post-100435","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-usd","9":"tag-eur","10":"tag-euro","11":"tag-hong-kong","12":"tag-ifo-sentiment-data","13":"tag-us-dollar","14":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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