AUD/USD accelerates losses below 0.7860

AUD/USD erased previous gains and turned in red in the early European session, mainly driven by losses in its OZ counterpart after worse than expected trade balance data knocked-off the kiwi.
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German Ifo Index to rise – Capital Economics

Jessica Hinds of Capital Economics, notes that the falling euro would have had a positive impact on the German Ifo business climate index, expecting it to rise to 107.2.
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