fxs_header_sponsor_anchor

News

German IFO Business Climate Index beats estimates with 79.5 in May, EUR/USD uninspired

  • German IFO Business Climate Index came in 79.5 at in May.
  • IFO Current Economic Assessment stood at 78.9 this month.
  • May German IFO Expectations Index arrived at 80.1.

The headline German IFO Business Climate Index came in at 79.5 in May, firmer than last month's 74.2 while beating the consensus estimates pointing to a reading of 78.3.

Meanwhile, the Current Economic Assessment arrived at 78.9 points in the reported month as compared to last month's 79.4 and 80.0 anticipated.

On the other hand, the IFO Expectations Index – indicating firms’ projections for the next six months, came in at 80.1 for May, up from the previous month’s 69.4 reading and better than the market expectations of 75.0.

About German IFO

The headline IFO business climate index was rebased and recalibrated in April after the IFO research Institute changed series from the base year of 2000 to the base year of 2005 as of May 2011 and then changed series to include services as of April 2018. The survey now includes 9,000 monthly survey responses from firms in the manufacturing, service sector, trade and construction.

FX implications

The mixed German IFO survey offer any respite to the EUR bulls, as the EUR/USD pair remains in daily lows near 1.0875, shedding 0.21% on the day. Escalating US-China tensions continue to make dollar’s safe-haven status more attractive.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.