It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
German Ifo Business Climate
What will happen?
Germany, the leading economy in the Euro Zone, will reveal one of the key economic indicators – German Ifo Business Climate on September 24 at 11:00 MT time. It is a survey of nearly 9,000 businesses that asks respondents to access the current business conditions and expectations for the next 6 months.
Why is it important?
Businesses adapt fast for the new market conditions, that’s why their current sentiment can signal changes in future economic activity such as spending, hiring, and investment. Last time, the indicator came out worse than expected and pressed down EUR/USD by 200 points. Pay attention to the support and resistance levels. For example, at that time the 200-hour moving average stopped the pair from further falling.
How to trade on German Ifo Business Climate?
- If the indicator is better than expected, the EUR can rise.
- Otherwise, fall.
Instruments to trade: EUR/USD, EUR/GBP, EUR/JPY.
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