Indicator IFO for business climate in Germany fell to 90.7 points in November, as expected, after registering 92.7 in October. This is the worst result seen by the indicator since July.
The Current Valuation IFO fell three tenths, standing at 90 points from the previous 90.3, although improving the 87.2 estimated.
The IFO index of expectations was the one that fell the most, losing 3.5 points from October 95 to the current 91.5, without reaching the expected 93.5. This is the worst result in six months, specifically since last May.
EUR / USD reaction
The EUR/USD you have ignored the data output for now. The cross is trading near the day’s highs reached after the European open at 1.1879. At time of writing, the euro is trading against the dollar above 1.1875, gaining 0.31% on the day.
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