When is the IFO German Survey and how could it affect EUR/USD?
The German IFO Survey Overview
Germany’s IFO institute will publish its business survey for March on Wednesday at 09:00 GMT.
The headline IFO – Business Climate Index is forecast to fall to 86.1 in March from 88.6 in February.
The IFO – Current Assessment Index is expected to inch lower to 86.0, from 86.7 previously.
IFO – Expectations Index is projected to come at 86.0 in the reported month, against the previous reading of 90.5.
How could the German IFO Survey affect EUR/USD?
EUR/USD could stay subdued if Germany's IFO Business Survey data come as expected. The risk-sensitive pair struggles as the Euro (EUR) faces challenges amid ongoing uncertainty surrounding the United States (US)-Iran peace negotiations.
The US Dollar (USD) resilience reflects its safe-haven appeal amid persistent geopolitical uncertainty. Recent reports indicate that diplomatic efforts are gaining traction, with discussions centered around implementing a one-month ceasefire to create space for formal negotiations between Washington and Tehran. The Trump administration has reportedly presented Iran with a 15-point peace proposal aimed at ending hostilities in the Middle East. However, Iranian officials have publicly denied any formal breakthrough, though a senior source acknowledged that indirect communication channels have been active.
Technically, the EUR/USD is trading around 1.1600 at the time of writing. The 14-day Relative Strength Index (RSI) at 47 suggests neutral momentum. This indicates a lack of strong directional bias in the near term. The immediate support lies at the nine-day Exponential Moving Average (EMA) at 1.1578, while the initial resistance appears at the 50-day EMA of 1.1672.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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