German Ifo Institute released a new set of its indices today at 9:00 am BST. The headline business climate index dropped from 87.3 to 85.7 in August - a deeper drop than 86.8 expected. Drop in headline index was driven by weaker-than-expected reading of both Current Conditions and Expectations subindices.
German IFO indices for August
- Business Climate: 85.7 vs 86.8 expected (87.3 previously)
- Current conditions: 89.0 vs 90.0 expected (91.3 previously)
- Expectations: 82.6 vs 83.7 expected (83.5 previously)
EUR dropped before the data was released on reports saying that there is a growing momentum among ECB members for a pause in rate hikes. A disappointing IFO report triggered another wave of selling with EURUSD dropping below the 1.0770 mark. However, the drop was later recovered and now the main currency pair is trading little changed compared to pre-release levels. German DE30 gained following the release.
Source: xStation5
Daily summary: Trump remarks helps Wall Street 📈Precious metals decline
Fed's Musalem remarks on the US economy and tariffs🗽
The AI Fever: Bubble or Will It Keep Rising?
BREAKING: Final inflation reading matches expectations. Core HICP inflation marginally higher
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
