Germany to Release its Ifo Business Climate Today

The Ifo Institute for Economic Research will be publishing the Ifo Business Climate of Germany today at 08:30 GMT. Even though the release of the indicator is deemed as medium-importance economic news coming from the business sector of the market, market participants who are trading in euro quotes will be curiously watching the changes in the readings of the indicator. Financial experts have estimated it to be 89.8. However, when the Ifo Business Climate of Germany was disclosed on 27th Mar 2023 at 08:30 GMT, the indicator stood at 91.2.

The release of this is known to have a positive impact on the values of the euro quotes when the figures are higher than expected. Also, the lower readings of Ifo Business Climate will have an unfavourable impact on the currency. The indicator will be representing the predictions of German companies about the economic development of the country for the upcoming six months.

ECB Executive Board Member to Give Speech Today

Since the speeches of Executive Board members of the ECB are said to include significant information for market analysts, market participants who are trading in the euro quotes are recommended to observe carefully the points discussed in the speech. As per the sources from the European Central Bank, Fabio Panetta will be delivering the speech today at 09:00 GMT, through which, the key areas of the financial regulation of the Eurozone will be explained. Further, the speech may have hints of either the easing or tightening of the monetary policy. However, an immediate impact on euro quotes is rarely noted after Panetta's speech.

The market is Most Likely to be Volatile Tomorrow

Prior to the release of the New Home Sales and CB Consumer Confidence Index from the US, the market will turn out to be more volatile. Therefore, the market participants are suggested to make a note of this opening of the US market.