Euro Starts the Week With Gains
The euro has strengthened today, erasing much of the losses seen on Friday. The EUR/USD pair is trading at 1.1369, having added 0.29% on the day. Weakening of the German business confidence had no impact on the single currency.
Today’s data showed, that Ifo business climate index fell to 102.0 in November, down from 102.9 in October and missed forecast of 102.3. Current assessment gauge fell to 105.4 in November, down from 106.1 in October and missed expectation of 105.6. Expectations gauge fell to 98.7, down from 99.7, missed expectation of 99.3.
Markets are focused on the Brexit development. Yesterday, the leaders of the EU countries approved the draft agreement on the conditions for leaving the UK from the European Union. European officials called it “the best possible deal,” adding that there is no alternative. The next step is to vote on an approved agreement in the UK Parliament.