25 Mar 2014
EUR/USD remains in bearish territory on German concerns
FXStreet (London) - EUR/USD remains in bearish territory following further weak German numbers earlier today.
Business confidence figures from the Ifo Institute declined to 110.7 from 111.3 in February and declining further than consensus expectations of a drop to 111.0.
The declines follow yesterday’s German flash PMIs which declined to 55.0 in March from 56.4 in February.
Further EZ stimulus possible
This morning, Bundesbank President Jens Weidmann stated that a discussion about the possibility of further stimuli for the Eurozone wasn’t off the cards, but was also reported as saying that while a round of European quantitative easing couldn’t be ruled out, “we have to ensure that the prohibition of monetary financing is respected.”
EUR bearish
EUR/USD is currently trading at USD1.3792, down 0.32 percent on the session. The pair has recovered slightly from a session low at USD1.3776 after opening at USD1.3836.
Business confidence figures from the Ifo Institute declined to 110.7 from 111.3 in February and declining further than consensus expectations of a drop to 111.0.
The declines follow yesterday’s German flash PMIs which declined to 55.0 in March from 56.4 in February.
Further EZ stimulus possible
This morning, Bundesbank President Jens Weidmann stated that a discussion about the possibility of further stimuli for the Eurozone wasn’t off the cards, but was also reported as saying that while a round of European quantitative easing couldn’t be ruled out, “we have to ensure that the prohibition of monetary financing is respected.”
EUR bearish
EUR/USD is currently trading at USD1.3792, down 0.32 percent on the session. The pair has recovered slightly from a session low at USD1.3776 after opening at USD1.3836.