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FX & Money Markets

Macroeconomics, monetary policy, FX and money markets

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IFO WIN
IFO WIN

Reuters headed the pack on one of the most market-moving figures of last week — a super-strong Ifo reading. The winning margin may have been small but gave plenty of time for those watching Reuters to get a trade away ahead of those who weren’t. Reuters beat Bloomberg by three seconds and Dow Jones by five on the jump in Germany’s key sentiment index, which propelled the euro sharply higher on Friday morning and sent core government bonds tumbling. The index leapt by nearly five points to a three-year high putting a big question mark, along with other strong data last week, over the consensus that the euro zone economy is doomed to slow again in the second half of the year. That new factor was still propelling stocks and the euro higher on Monday.

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