Date : 24th November 2014
EURUSD TRADING HIGHER IN THE EUROPEAN SESSION. GERMAN IFO BUSINESS CLIMATE ROSE IN NOVEMBER.
EURUSD dropped sharply in Monday and closed at 1.2390. The President of the European Central Bank Mario Draghi reiterated his previous statement that the central bank is ready to expand its asset purchases if the low inflation continues to persist in the Euro area.
During the weekend the Vice President of the ECB Vitor Constancio stated that the current low inflation is a cause of big concern, but according to him there is no risk of entering a full deflation spiral.
Data released today indicated that the German Ifo Business Climate rose to a reading of 104.7 in November.
A report from BBG released today says that the Troika team and Greek officials are set to meet tomorrow in Paris.
Support for the EURUSD is seen at 1.2362 and resistance is seen at 1.2445.
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