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Germany IFO Expectations Dissapoints, EURUSD Unfazed

Dax Index
Dax Index

Germany IFO Business Climate came in at 94.6 topping expectations of 94.5 in September, the Current Assessment came in at 98.5 also beating expectations of 97. The disappointment cane from Germany IFO Expectations which came in at 90.8, below market consensus of 91.8 for September.

Earlier today the France Business Climate came in at 102 in line with expectations for September.

EURUSD looks unfazed by the news the pair is trading  0.04 percent lower at 1.0988 having hit the daily low at 1.0983 and the daily high at 1.096. Bearish momentum persists as the pair trades inside the descending channel and below the major daily moving averages, Short positions looking for amove down to 1.0625 the yearly lows.

EURGBP trades 0.11 percent higher at 0.8847, rebounding from daily lows at 0.8830.