Germany’s business climate IFO for the month of December has moderated to 94.7 points from 96.6 in November (revised up from 96.5), falling below the expected 95.3 points. This is the lowest figure recorded by the indicator in ten months, specifically since February.
The index Current Valuation IFO it has also declined, standing at 96.9 from the previous 99, without reaching the expected 97.5. This is the weakest figure seen in the past seven months, since May.
Finally, the IFO of expectations has fallen to 92.6 in December from November’s 94.2, disappointing the estimated 93.5. This is the worst result obtained by the indicator in eleven months, since January 2021.
EUR / USD reaction
The EUR/USD it has barely reacted to the data, and continues to recover some ground after the fall in the European open to the day’s lows at 1.1317. At time of writing, the pair is trading above 1.1336, gaining 0.04% daily.
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