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EUR To Strengthen Next Week; Buy EUR/USD Into A German IFO Related Dip
Currency investor focus upon Germany will intensify today with the release of the November IFO. Recent pessimistic comments from ECB president Mario Draghi, and official sector forecast downgrades, have raised concerns about Germany’s previously perceived solid growth outlook. A weak IFO today would amplify those concerns opening EUR up to further selling pressure from previously hesitant EUR bears. Notwithstanding the potential for macro-driven EUR pressure today however, investors should also recognise the potential for a policy-motivated bounce Monday given a resolution of the Greek funding situation. How to ... (full story)
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