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Unimpressive German IFO pushes DAX a little lower even as EUR/USD rebounds
The November German IFO business climate index has just been released and it has missed on expectations, falling to 85.7, from expected 86 reading. The other readings have also missed or barely matched and missed on previous readings. The EUR/USD has not fallen back though and it is currently a higher, after holding perfectly to that noted support, at 1.0448. There might be some relief in the sense the data was not worse. The DAX was tracking lower ahead of this having peaked earlier at 19,468. The index was trading around 19,375 leading into the data. It is currently trading a little lower just now, as it hands back more of those earlier gains
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