The German Business Climate rose to 107.5 today. Last month’s figure was 106.3 on the composite index. Today’s report was expected to be about 107 flat.
The Ifo Business Climate is watched closely by investors and economists alike for signs of business optimism. A higher-than-expected figure communicates growth possibilities for suffering euro area.
The Ifo Business Climate index is based on a survey of 7,000 firms in Germany concerning their view of how economic conditions are now and their expectations for the months ahead.
The EURUSD seems to be on it’s way to trade at 1.337. There was little volatility at the release of this report this morning.
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