EUR/USD– All about confidence for euro

on Aug 27, 2013
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**iNVEZZ.com, Tuesday 27 August:**

Finnish Consumer Confidence for August stayed unchanged from the prior figure of 5.0, whereas analysts were projecting a solid rise to 7.4.
Dutch Producer Confidence for August is reported at 08.30 BST, with the consensus for a less pessimistic -3.1 from -3.5 in July.
Ifo Business Climate in Germany for August is due out at 09.00 BST and market expectations are for a noteworthy rise of around 0.9 to 107.1. Since May the figure has marginally surpassed forecasts in all three releases, yet the improvement was from 105.7 to 106.2 in July, which was the most positive reading in over a year. It should be noted that in July 2010 from 106.2 the indicator jumped to 106.7 in August, however the market dynamics were completely different. The chart below shows a historical perspective for the Ifo Business Climate in Germany divided by its components.

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Analysts conjecture that the index will be boosted by a more optimistic assessment of current conditions, with an estimated increase to 111.0 from July’s 110.1. The median economists’ forecast for the business expectations component is to progress to 103.1 from 102.4.

The euro has been consolidating today in a narrow 35-pip range and as the European session gets under way the currency is holding around 1.3375 or 0.04 percent up intraday.
In the US, CB’s Consumer Confidence Index for August is due out at 15.00 BST. Expectations are showing wide variation, ranging from 74.8 to 80.0, yet they have a more negative bias compared to the consensus of 78.0. The prior figure of 80.3 fell from June’s 68-month high.

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