{"id":20752,"date":"2011-04-21T12:14:10","date_gmt":"2011-04-21T16:14:10","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=20752"},"modified":"2011-04-21T12:14:10","modified_gmt":"2011-04-21T16:14:10","slug":"eurusd-checks-rise-after-german-ifo-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/04\/21\/eurusd-checks-rise-after-german-ifo-data\/","title":{"rendered":"EUR\/USD Checks Rise after German Ifo Data"},"content":{"rendered":"<p><strong>By Greg Holden<\/strong><\/p>\n<p>Germany\u2019s publication of its Ifo Business Climate report was roughly  as expected on Thursday. Analysts were expecting a reading of 110.6  making today\u2019s 110.4 figure anti-climactic. Interestingly, the EUR\/USD  met solid resistance shortly after this report even though such a  reading would typically boost the euro.<\/p>\n<p>Today\u2019s <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/04\/20\/thin-trading-helps-euro-canadian-dollar\/\">thin market conditions<\/a> ahead of this weekend\u2019s Easter holiday may be interfering with normal  currency values. A number of investors have been anticipating a  reevaluation at the start of next week as normal volume levels are  reintroduced to the market.<\/p>\n<p>Comments from the president of the European Central Bank (ECB),  Jean-Claude Trichet, recently hinted at a softening of the central  bank\u2019s position in regards to monetary policy. The dovish sentiment has  pulled down on the EUR in short-term trading with many traders beginning  to shift away from the 17-nation single currency in anticipation of a  fall.<\/p>\n<p>The<a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/04\/21\/pound-soars-on-strong-retail-sales-data-canadian-retail-sales-eyed\/\"> EUR\/USD<\/a> checked its recent rise towards 1.4650 and is now trading downward with  a current price near 1.4570. The data out of Germany may have less to  do with this movement than the ECB\u2019s softened stance in regards to  monetary policy adjustments. Traders may want to anticipate a downturn  in this pair at the beginning of next week should the current  environment remain unchanged.<\/p>\n<p><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><br \/>\n<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  may                                     not                               be                                                                                                                         suitable                                               for                                                           all                                                                                                                                                                                       investors.                                                                                            There                                                                        is                      a                                                                                                                                                                                                                                                                                                         possibility                                                                                                            that                                                                                                                                              you                                                                                                 could                                                                                                                                          sustain     a                                                        loss                                                                                     of                                    all                                                            of                                                                             your                                                                                                                                                                                                                                                                                   investment                            and                                                                                                                                                                                                                                therefore                                    you                                                                                                                                                                                  should                                                    not                                                                                                                                   invest                                                                                                                                       money                                                     that                                                                   you                                                                                                                                                                               cannot                                                                                                                       afford                      to                                                                                                                                                 lose.                                                 You                                                                                                                                                                should                                                               be                                                                                   aware                                                         of                                                                                                                     all                                                                     the                                                                          risks                                                                                                                                                                                                                                   associated                                                                                                with                                                                                                       Foreign                                                                                                                                                                 Exchange                                                                                                                                                                                 trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Germany\u2019s publication of its Ifo Business Climate report was roughly as expected on Thursday. Analysts were expecting a reading of 110.6 making today\u2019s 110.4 figure anti-climactic. Interestingly, the EUR\/USD met solid resistance shortly after this report even though such a reading would typically boost the euro.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-20752","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=20752"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20752\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=20752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=20752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=20752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}