Intra-day Market Moving News and Views
26 Oct 2015 09:15GMT
EUR/USD - ...... Euro eases in European morning after intra-day short-covering rebound from a fresh 2-month trough of 1.0991 (Austria) to 1.1056 just ahead of release of key German business confidence survey.
Reuters reported German business morale fell modestly in October, suggesting Europe's largest economy remains resilient in the face of a slowdown in China and emissions scandal at car maker Volkswagen.
The Munich-based Ifo economic institute's business climate index, based on a monthly survey of some 7,000 firms, dipped to 108.2 in October from 108.5 in September.
This was stronger than the 107.8 reading that was forecast by economists in a Reuters poll.
Ifo economist comments :
- German auto industry looks to be unfazed by Volkswagen scandal
- German economy is overall showing itself to be very resilient
- the domestic economy is the driving force
- emerging markets and us economy are dampening export expectations
- no effects from monetary policy from Fed and ECB are noticeable on Ifo index
- influx of refugees has had hardly any affect until now on Ifo index
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