Germany: IFO data offers mixed results in January

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The index of Germany’s business climate published by the Ifo Institute has risen 1.6 points in January, standing at 90.2 from 88.6 in December. The indicator matches market expectations and at the same time reaches its highest level in seven months, specifically since June 2022.

The current valuation IFO, however, has disappointed with a drop of three tenths to 94.1 from 94.4, standing below the 95 points estimated by the consensus.

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Finally, the IFO of expectations has improved 3.2 points, jumping to 86.4 from 83.2, exceeding the 85 expected by the experts. This is its highest reading in eight months, since May 2022.

EUR/USD reaction

The EUR/USD has reacted to this mixed data with a slight bounce of just 10 pips, staying in the low range of the day around 1.0877, losing 0.04% daily. It should be remembered that in the run-up to the European opening, the pair reached two-day highs at 1.0911.

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Source: Fx Street

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