EUR Analysis and Talk points
- EURUSD Unchanged Despite Soft IFO
- Markets Eye Draghi Speech
The Euro was unchanged against the dollar and the sterling as the IFO Business Climate for February 2019 missed expectations at 98.5 (Exp. 98.9), however, the prior reading had been revised higher to 99.3 from 99.1.
As business climates is at its lowest since January 2015, the assessment of current conditions comes in at 103.4, its lowest since February 2013, and future expectations come in at its lowest since November 2012 at 93.8. After the release of the figures, the EURUSD has continued its scarce volatility with a marginal move as the pair continues to look for developments in the US-China trade talks to consolidate a direction. ECB President Draghi is expected to give a speech later today where he is expected to remain dovish about the likelihood of a future rate hike.