- IFO’s German Business Climate Index stood at 90.1 in January.
- IFO’s current economic assessment stood at 89.2 this month.
- Germany’s IFO Expectations Index for January reached 91.1.
He IFO’s general business climate index for Germany falls sharply to 90.1 points in January from 92.2 the previous month and coming in below the estimates of 91.8 by a large margin.
Meanwhile, the current economic evaluation index reached 89.2 points in the reported month, compared to 91.3 in the previous month and 90.6 anticipated.
On the other hand, the IFO expectations index, which indicates the projections of the companies for the next six months, dropped to 91.1 points in January from 93.0 the previous month and falling below market expectations of 93.2.
Reaction From the market
EUR / USD has found new selling after negative data from German IFO, heading for a test of Friday’s low at 1.2151.
At the time of writing, the pair is holding near the daily lows around 1.2160.
About the German IFO
This index published by the Ifo institute is watched closely as a leading indicator of current conditions and expectations about business in the Eurozone. The institute surveys more than 7,000 companies about their evaluation of the business environment and their short-term plans. A reading above the market consensus will increase demand for the euro.
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