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.
The 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
لبنان يستهدف استعادة السوق السعودية لتعزيز الصادرات الزراعية وجذب الاستثمارات
الطيران العُماني يعزز شبكة الشحن بإطلاق 5 وجهات جديدة لدعم التجارة مع آسيا
معدل التوظيف في الولايات المتحدة وفقًا لبيانات ADP أقل من التقديرات! زوج اليورو/الدولار الأمريكي يواصل مكاسبه 📈
تحالف بقيادة صندوق الاستثمارات العامة يستحوذ على "إلكترونيك آرتس"
