German IFO Friday June 22nd
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Friday’s London session may experience high volatility as the monthly German IFO is released. With the overload of news being released in the past 7 days, investors are giving their close attention to major announcements like this.
The German IFO is a survey querying around 7,000 German businesses on the current economic climate of Germany and their future expectations. With Germany being the largest economy in the Euro-Zone, IFO releases are always very significant. IFO stands for Information and Forschung (Forschung means research).
4am EST is when the IFO is scheduled to be released. There was a sharp fall last month so keep your eyes peeled.
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The forecast is between 105.9 and 106.2 for tomorrow’s release. With some major bearish action on the EURUSD this afternoon, we could possibly see a follow through tomorrow down to the 1.24 support level.[/column]
Written By: Tony College
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