EUR/USD could move back up to the 1.07 area on upside surprise in German’s IFO.

EUR/USD is clinging to recovery gains around the 1.0600 region. The focus now shifts to the German IFO business survey. Any upside surprise could give the pair a modest boost, economists at ING report.EUR/USD unlikely to break new ground this week

“On the agenda today is the Germany Ifo business confidence index for December. Today’s Ifo data is expected to see the expectations component bounce up to 82 from 80 – still very low. Any upside surprise could give EUR/USD a modest boost in thin markets.”

“We doubt EUR/USD will break new ground this week, although it is hard to rule out a move back up the 1.0700 area.”

EUR/USD extends gains above 1.0600 ahead of German IFO

EUR/USD regains upside traction above 1.0600, snapping a two-day downtrend in the early European morning. The pair’s renewed strength could be linked to a fresh leg down in the US Dollar, despite the cautious sentiment. Germany’s IFO survey awaited. 


GBP/USD jumps above 1.2200 amid renewed US Dollar selling

GBP/USD is extending the upswing above 1.2200, as the US Dollar decline picks up pace amid an improved market mood on Monday. GBP bulls shrug off the UK economic challenges and dovish BoE policy outlook. 


Gold oscillates in a narrow range, remains below $1,800 mark

Gold price lacks any firm directional bias on Monday and remains confined in a narrow range. A modest USD downtick lends some support, though a combination of factors caps the upside.

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