BREAKING: German business climate improves in May

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The Ifo Business Climate Index in Germany stood increased to 99.2 in May from the previous month's figure of 96.8 and above market expectations of 98.2. Current assessment 95.7 vs 95.5 expected (Prior 94.1). Expectations 102.9 vs 101.0 expected (Prior 99.5). Today's reading reaffirms the more optimistic sentiment surrounding the German economy as we look towards the second part of the year.

EURUSD saw relatively small reaction to today’s data releases. The most popular currency pair continued to trade around 1.2250 level. Source: xStation5

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