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Flash: European IFO view – TD Securities

FXstreet.com (London) - Alvin Pontoh, FX & Rates Strategy at TD Securities said that the markets are looking for a flat reading on the German IFO for the headline, as well as for current and future expectations.

He explained that the improvement in the PMI for May and sharp underperformance of the IFO over the last two months, however, suggests some upside risks, with a 1-2 point improvement in the headline possible. Weidmann is also speaking at 11am BST and Constancio at 1:30pm EST.

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The euro turned to positive after the German GDP expanded in line with expectations during the first quarter, hovering over 1.2935/40...
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