The German IFO Institute is set to release its business survey for November on Monday at 09:00 GMT, a key indicator that could influence the EUR/USD exchange rate. Market participants will be keenly watching the results, as any significant deviation from expectations could prompt volatility in trading. Analysts predict that a strong reading may bolster the Euro, pushing the currency pair higher against the USD.
In recent weeks, the EUR/USD has been fluctuating around the 1.06 level, with traders closely monitoring economic data to gauge future movements. If the IFO survey indicates improved business sentiment, it could lead to a bullish trend for the Euro, potentially challenging resistance levels. Conversely, a weaker outcome may reinforce the dollar's strength, with the exchange rate testing support around 1.05.
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Data Source: FX Killer Analysis Team Updated: 2025-11-24 07:40
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.