The index Germany’s business climate IFO for the month of June has risen to 101.8 since May 99.2, exceeding the expected 100.6 and reaching its best result since November 2018.
The Current valuation IFO has also improved, standing at 99.6 compared to the 95.7 of the previous month, improving the 97.8 forecast. This is the fifth consecutive month of improvements and the best figure on record since June 2019.
The IFO of expectations has jumped to 104.00 from 102.9, improving by one tenth the estimated 103.9. This is the best score obtained by the indicator since December 2010.
EUR / USD reaction
EUR / USD barely reacted to the good German IFO data. Just prior to the release, the pair rose to new highs for the day at 1.1942. At time of writing, the euro is trading against the dollar above 1.1932, gaining 0.05% daily.
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