BREAKING: EUR muted after German IFO meets expectations

German IFO indices for January were released today at 9:00 am GMT. The headline Business Climate index jumped from 88.6 to 90.2, while the market expected a 90.3 reading. Current Conditions subindex dropped from 94.4 to 94.1 (exp. 94.0) while Expectations subindex moved from 83.2 to 86.4 (exp. 85.3). The reading was more or less in-line with forecasts and as a result no major reaction on the market could be spotted. EURUSD was muted, trading in a 0.1%-wide range following the reading, while DE30 ticked lower.

EURUSD has been muted following German IFO release (orange circle) and continues to trade a touch below 200-period moving average on 15-minute interval. Source: xStation5