The German IFO Institute released its latest set of sentiment indices today at 9:00 AM BST. Data for August was expected to show a drop in the headline Business Climate index from 86.6 to 86, with both subindices – Current Conditions and Expectations – expected to decline.
However, the actual report came in below expectations, with the headline Business Climate index at 85.4, a larger drop than anticipated. The Expectations subindex also came in lower than expected, while the Current Conditions index showed a significant drop from 86.5 to 84.4.
إبدأ بالإستثمار اليوم أو تدرّب على حساب تجريبي
إنشاء حساب حساب تجريبي تحميل تطبيق الجوال تحميل تطبيق الجوالThe market reaction was initially muted, with positive price action in EUR/USD and the euro showing strength. The DE40 also ticked higher and is now approaching an all-time high.
Germany, IFO indices for September
- Business Climate: 85.4 vs 86.0 expected (86.6 previously)
- Current Conditions: 84.4 vs 86 expected (86.5 previously)
- Expectations: 86.3 vs 86.4 expected (86.8 previously)
The price action led to the RSI breaking its upward trendline and entering oversold territory. This could indicate short-term strength for the euro and an opportunity to recover part of yesterday's losses. Source: xStation
