German IFO Institute published the latest survey data for February today at 9:00 am GMT. Data came in mostly in-line with market expectations with headline Business Climate index reaching 91.1 (exp. 91.2). Current conditions subindex missed estimates by quite a big margin while Expectations subindex turned out to be slightly better than expected. However, as scale of deviations from median estimates was small, there were no major reactions on the market. EURUSD ticked lower while DE30 was flat following the release.
IFO Business Climate index for February: 91.1 vs 91.2 expected (90.2 previously)
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Expectations: 88.5 vs 88.4 expected (86.4 previously)
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Current Conditions: 93.9 vs 95.0 expected (94.1 previously)
DE30 barely saw any reaction to in-line IFO data. Index continues to trade near 15,300 pts price zone, that has limited recent downward moves. Source: xStation5
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