Currency Analyst since 2010

Nov. 22: European session

EUR/USD rose to $1.3527. German Ifo business climate surged to 109.3 beating the forecast of 107.9. Another reason for euro to push higher was the comments from the ECB officials:

·         The ECB’s president Draghi said that the situation in the EU has greatly improved, but the region still faces challenges. The ECB will announce stress test parameters by end January.  

·         The ECB’s Nowotny said that interest rates are now extremely low and can’t be seen as long-term equilibrium.

·         The ECB’s Praet said EZ debt overhang has created deflation risks.

There are no market-moving data points due out of the US on Friday.

GBP/USD keeps fluctuating in the $1.6200 area. Britain’s economic calendar for today is also empty.


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