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Market Drivers – European Session 25-1-2022

Adel 25 January, 2022 7:00 pm Market Update

The European session has been fairly quiet as stocks seem somewhat more cautious after the bounce on Wall Street yesterday.

US futures have fallen since Asian trading and maintained this trend throughout European morning trading. The dollar received some support before the Federal Reserve.

EUR/USD fell to fresh five-week lows from 1.1310 to 1.1270 while GBP/USD fell to a three-week low from 1.3490 to 1.3437, before holding near 1.3450 levels now.

The headline German IFO Business Climate Index unexpectedly jumped to 95.7 in January versus last month’s 94.7 and the consensus estimates of 94.7.

Meanwhile, the Current Economic Assessment dropped to 96.1 points in the reported month as compared to last month’s 96.9 and 96.1 anticipated.

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