{"id":101410,"date":"2020-06-24T04:00:26","date_gmt":"2020-06-24T08:00:26","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=101410"},"modified":"2020-06-24T03:25:20","modified_gmt":"2020-06-24T07:25:20","slug":"103472-eur-usd-euro-tentatively-higher-ahead-of-ifo-sentiment-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103472-eur-usd-euro-tentatively-higher-ahead-of-ifo-sentiment-data\/","title":{"rendered":"EUR\/USD: Euro Tentatively Higher Ahead Of German IFO Sentiment Data"},"content":{"rendered":"<ul>\n<li><strong>German IFO Sentiment data to provide catalyst in otherwise quiet session<\/strong><\/li>\n<li><strong>Euro (EUR) extends gains for 3<sup>rd<\/sup> day<\/strong><\/li>\n<li><strong>US Dollar (USD) jittery on strong data but rising covid-19 numbers<\/strong><\/li>\n<li><strong>As Europe opens Euro US Dollar exchange rate (EUR\/USD) holds over $1.13<\/strong><\/li>\n<\/ul>\n<p>The Euro is pushing cautiously higher for a third straight session, although the rally is showing signs of running out of steam. The Euro US Dollar exchange rate settled on Tuesday +0.4% at US$1.1308.<\/p>\n<p>At 07:15 UTC, EUR\/USD is trading +0.1% at US$1.1310 on jittery optimism and as investors look ahead to the release of German business sentiment data.<\/p>\n<p>Germany will release its IFO business climate data for June and optimism is expected o recover further. Analysts are expecting a move higher on the index to 85, up from 79.5 in May.\u00a0 Assessment of the current climate is also expected to improve. Better than expected numbers could see the Euro advance further.<\/p>\n<p>The data comes hot on the heels of PMI data yesterday, which showed that business activity in the eurozone continued to pick up as lockdown measures ease. France was a notable performer, with activity in both its service sector and manufacturing sector expanding.<\/p>\n<p>Concerns over a flare up of coronavirus cases in Germany could keep a cap on risk sentiment and Euro gains. German authorities in the state of North Rhine-Westphalia have re-imposed lockdown restrictions after a spike in coronavirus cases. More than 500,000 people are affected. Developments will be closely watched.<\/p>\n<p>The US Dollar is trading flat versus its major peers as investors weigh up encouraging data with concerns over rising coronavirus cases in several states.<\/p>\n<p>The US has reported more than 25,000 new coronavirus cases for a fifth straight day. Increases in Arizona, California, Florida and Texas are the most concerning and investors are cautious that further spreading of the virus could slow the US economic recovery.<\/p>\n<p>Data on Tuesday showed that the US economy continued improve following April\u2019s nadir. PMI figures showed business activity contracting by less and home sales surged 16.6%, following a -5.2% decline in April.<\/p>\n<p>With no high impacting US economic data due for release today sentiment will drive the US Dollar as it awaits its next catalyst. Jobless claims and durable goods orders will be in focus on Thursday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>German IFO Sentiment data to provide catalyst in otherwise quiet session Euro (EUR) extends gains for 3rd day US Dollar (USD) jittery on strong data but rising covid-19 numbers As Europe opens Euro US Dollar exchange rate (EUR\/USD) holds over $1.13 The Euro is pushing cautiously higher for a third straight session, although the rally [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4533,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[1395,1393,1535,2782,1454,1397,1398],"class_list":{"0":"post-101410","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-home-sales","12":"tag-ifo-sentiment-data","13":"tag-pmi","14":"tag-us-dollar","15":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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