- The IFO IFO of German business climate exceeded estimates with 87.5 in May.
- The EUR/USD is pressed over 1,1300 due to German feeling data.
The IFO IFO of German business climate rose to 87.5 in May from 86.9 in April. The data came slightly above the market forecast of 87.4.
Meanwhile, the current economic evaluation index worsened at 86.1 during the same period from 86.4 in April, being below the estimated reading of 86.8.
The IFO expectations index, which indicates the projections of the companies for the next six months, rose to 88.9 in May compared to 87.4 in April and 88 expected.
Market reaction to the German IFO survey
The EUR/USD maintains its range above 1,1300 after the Mixed German IFO survey. At the time of writing, the par quotes 0.12% down the day.
Euro price today
The lower table shows the percentage of euro change (EUR) compared to the main currencies today. Euro was the weakest currency against the Japanese yen.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.10% | -0.06% | -0.40% | -0.03% | -0.23% | 0.18% | 0.00% | |
| EUR | -0.10% | -0.16% | -0.50% | -0.12% | -0.32% | 0.08% | -0.09% | |
| GBP | 0.06% | 0.16% | -0.35% | 0.04% | -0.14% | 0.23% | 0.05% | |
| JPY | 0.40% | 0.50% | 0.35% | 0.38% | 0.19% | 0.56% | 0.37% | |
| CAD | 0.03% | 0.12% | -0.04% | -0.38% | -0.18% | 0.21% | 0.01% | |
| Aud | 0.23% | 0.32% | 0.14% | -0.19% | 0.18% | 0.39% | 0.20% | |
| NZD | -0.18% | -0.08% | -0.23% | -0.56% | -0.21% | -0.39% | -0.20% | |
| CHF | -0.01% | 0.09% | -0.05% | -0.37% | -0.01% | -0.20% | 0.20% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the euro of the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the EUR (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
