German IFO, July 2012

[column size=”1-2″ last=”0″ style=”1″] Tomorrow at 4:00am EST (11am local time in Germany) the German IFO will be released. The German IFO is derived from about 7,000 businesses rating the current level of economic conditions for the upcoming 6 months.

Tomorrow we are expected to see the third declining month in a row. The forecast is 104.8 which will be the lowest since 2010. A release higher than the forecast would likely turn out bullish for the Euro.

It appears more of the euro-zone is suffering than just Spain and Greece. Germany, the largest economy in Europe could be an additional concern as the business climate drops.[/column]
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The German IFO is a leading indicator of the economic health for Germany and the Euro. It’s always smart to keep your eye on this piece of news but with current euro conditions this is a BIG deal. With a release lower than expected we could see the EUR hitting new lows against the USD for the fourth day in a row.

Written By: Tony College

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