Previous Trading Days Events 18 Dec 2023

German business morale worsened in December according to the Ifo Institute report. It showed a decline in both expectations and current conditions. The business climate index was reported at 86.4 versus the 87.8 forecast.

The fiscal woes of the last month have clearly left their mark on the German economy, with the countrys most prominent leading indicator showing just how difficult it will be for the economy to bounce back, said Carsten Brzeski, global head of macro at ING.

Source httpswww.reuters.commarketseuropegermanbusinesssentimentfallsdecemberifo20231218

Winners vs Losers

JPY pairs JPY as quote have moved to the upside significantly after the BOJ policy rate announcement and the JPY depreciation that followed. EURJPY has moved to the top reaching 1.36 gains for the week. This month AUDUSD has the highest gains, 1.58 so far.

News Reports Monitor Previous Trading Day 18 Dec 2023

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Midnight Night Session Asian

No important news announcements, no special scheduled releases.

MorningDay Session European and N. American Session

86.4 points was the reported figure for the German Ifo Business Climate report. The headline business climate index for Germany due Monday from the countrys Ifo Economics Institute was expected to improve to 87.8 points from 87.3 last month but eventually no. Grim picture.

General Verdict

The FX market experienced low volatility. Monday mood….