GfK German Consumer Climate Holds Steady In June

Release Explanation: A survey of the sentiment of the public regarding current and future economic conditions. The release builds an economic picture of the mood of the economy's.

TheLFB-Forex.com Trade Desk Thoughts: German consumer climate remained steady for the month of June 2009.

'German consumers face difficult times, as uncertainty regarding the economic future mounts. However, some improvement had been seen over the last few months,' TheLFB-Forex.com Trade Team noted.

Forex Technical Reaction: The euro had a weak reaction to the news release. The pair is trading trapped between the neutral pivot point (1.4000) and TheLFB S1 (1.3970), after it lost 30 pips since the Tuesday session started.

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