{"id":25914,"date":"2023-12-18T12:22:34","date_gmt":"2023-12-18T12:22:34","guid":{"rendered":"https:\/\/www.xtreamforex.com\/?p=25914"},"modified":"2024-02-20T08:29:39","modified_gmt":"2024-02-20T08:29:39","slug":"eur-usd-maintains-modest-increase-near-1-0900-awaiting-german-ifo-report","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/US\/eur-usd-maintains-modest-increase-near-1-0900-awaiting-german-ifo-report\/","title":{"rendered":"EUR\/USD Maintains Modest Increase Near 1.0900, Awaiting German IFO Report"},"content":{"rendered":"<h1><strong>EUR\/USD Maintains Modest Increase Near 1.0900, Awaiting German IFO Report<\/strong><\/h1>\n<p><span style=\"font-weight: 400;\">Rewrite this news and expand to 400\u00a0 words: <a href=\"https:\/\/www.xtrememarkets.com\/US\/\"><strong>EUR\/USD<\/strong><\/a> Maintains Modest Increase Near 1.0900, Awaiting German IFO Report<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The EUR\/USD pair posts modest gains during the Asian trading hours on Monday. The major pair remains capped under 1.1000, the key barrier, and currently trades near 1.0900 amid the rebound of the US Dollar Index (DXY) and weaker Eurozone data. Investors will take more cues from the German IFO survey for fresh impetus on Monday.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">The downturn in eurozone business activity surprisingly fell in December and indicated the bloc\u2019s economy is almost certainly in recession. The preliminary Eurozone HCOB Composite PMI dropped to 47.0 in December from November\u2019s print of 47.6, below the market consensus of 48.0. The figure registered the seventh consecutive month below the 50 level, separating growth from contraction.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, the Eurozone Manufacturing PMI came in worse than expected, dropping to 44.2 in December, while the Services PMI fell to 48.1 from 48.7 in the previous reading, missing the estimation of 49.0. The data suggested that the Eurozone economy is likely to contract in the fourth quarter, contrary to the ECB&#8217;s projections. This, in turn, exerts some selling pressure on the Euro (EUR) and acts as a headwind to the EUR\/USD pair.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Across the pond, the US S&amp;P Global Composite PMI grew at the fastest pace in five months, rising to 51.0 in December from 50.7 in the previous reading. Meanwhile, the Manufacturing PMI fell to the lowest level in four months, easing from 49.4 to 48.2 in December. The Services PMI rose to 51.3 in December from 50.8 in November.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On Sunday, Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee stated that it\u2019s too early to declare victory over the inflation battle, and the decisions on rate cuts will be dependent on economic data.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Moving on, the German IFO surveys will be released and are expected to show a modest improvement. Later this week, the Eurozone Harmonized Index of Consumer Prices (HICP) for November will be due on Tuesday, and the German Producer Price Index (PPI) will be released on Wednesday. On the US docket, the Census Bureau will release the housing data, including Building Permits and Housing Starts on Tuesday.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>EUR\/USD Maintains Modest Increase Near 1.0900, Awaiting German IFO Report Rewrite this news and expand to 400\u00a0 words: EUR\/USD Maintains Modest Increase Near 1.0900, Awaiting German IFO Report The EUR\/USD pair posts modest gains during the Asian trading hours on Monday. The major pair remains capped under 1.1000, the key barrier, and currently trades near<\/p>\n... <a href=\"https:\/\/www.xtrememarkets.com\/US\/eur-usd-maintains-modest-increase-near-1-0900-awaiting-german-ifo-report\/\">continue reading<\/a>.","protected":false},"author":1,"featured_media":25915,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[94,20,266,168,296,19,24,162,22,355,201],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>EUR\/USD Maintains Modest Increase Near 1.0900, Awaiting German IFO<\/title>\r\n<meta name=\"description\" content=\"The EUR\/USD pair posts modest gains during the Asian trading hours on Monday.\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.xtrememarkets.com\/US\/eur-usd-maintains-modest-increase-near-1-0900-awaiting-german-ifo-report\/\" \/>\r\n<meta property=\"og:locale\" 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