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Jun 24 - 05:55 AM

EUR/USD - IFO Miss May Encourage More Traders To Sell EUR/USD

By Jeremy Boulton  —  Jun 24 - 04:20 AM
  • IFO fell from 89.3 in May to 88.6 in June - was expected 89.7

  • Expectations worsen to 89.0 from 90.4 missing 91.0 f/c

  • Traders are betting that euro rises

  • Net longs reduced in June from $9.2bln to $5.8bln

  • EUR/USD falling 1.0916 to 1.0668 between Jun 4 and Jun 14

  • Weaker IFO follows PMI misses last week longs

Source:
Refinitiv IFR Research/Market Commentary

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