The European Central Bank has expressed confidence that a “moderate but steady” pace of growth can be maintained in the 19-nation region despite political uncertainty and slowing global trade, with policy makers pondering whether and how to expand quantitative-easing program. In Tuesday’s report, the Ifo institute said its business climate index climbed to 110.5 from 109.5 in September. That’s the highest level since April 2014 and compares with a median estimate in a Bloomberg survey of economists of 109.6. An index for economic expectations rose to 106.1 form 104.5, while the evaluation of the current situation also improved to 115 from 114.7.
Euro is currently being traded around 1.0880 level. Pair is likely to find support around 1.0850 handle and resistance above 1.0930 area.
