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EUR/USD focus on German IFO data

The EUR/USD Spot has managed to come back from overnight troughs near 1.1220 – the lowest level in the last three weeks – and it now seems to be stabilizing in the mid-1.1200s, posting daily tops so far and recovering some ground after last week’s sell-off.

Focus IFO Data.
The German IFO indicator is next on tap, with market consensus expecting a generalized albeit slight improvement during the current month. Moving forward, a very interesting calendar will put the greenback in centre stage, with the FOMC meeting being the salient event on Wednesday.

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