German IFO Business Climate drops to 96.5 in November vs. 96.6 expected

German IFO Business Climate Index came in at 96.5 in November.
IFO Current Economic Assessment fell to 99.0 this month.
November German IFO Expectations Index arrived at 94.2, a miss.

Dhwani Mehta FXStreet

The headline German IFO Business Climate Index worsened to 96.5 in November versus last month's 97.7 and the consensus estimates of 96.6.

Meanwhile, the Current Economic Assessment arrived at 99.0 points in the reported month as compared to last month's 100.1 and 99.0 anticipated.

The IFO Expectations Index – indicating firms’ projections for the next six months, fell to 94.2 in November from the previous month’s 95.4 reading and worse than the market expectations of 95.0.

Market reaction

EUR/USD holds the lower ground on the downbeat German IFO survey. The spot hit fresh 2021 lows of 1.1220 on the data release.

At the time of writing, the pair is down 0.19% on the day, trading at 1.1225.

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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

EUR/USD faces some resistance near 100-SMA on H4, around 1.1830 zone

The EUR/USD pair gains some follow-through positive traction for the second consecutive day and climbs to the 1.1830 region during the Asian session on Thursday. The US Dollar remains on the back foot amid concerns about the economic fallout from US President Donald Trump's erratic trade policies and acts as a tailwind for spot prices.

GBP/USD extends recovery to near 20-day EMA as US Dollar weakens

The Pound Sterling holds onto weekly gains around 1.3565 against the US Dollar during the Asian trading session on Thursday. The GBP/USD pair trades firmly as the US Dollar remains under pressure due to uncertainty surrounding the United States trade policy outlook.

Gold struggle with $5,200 extends ahead of more US-Iran talks

Gold is replicating the recovery moves seen in Wednesday’s Asian trading early Thursday, as buyers continue to flirt with the $5,200 level. Sustained US Dollar weakness and looming US-Iran talks aid the bright metal’s rebound.

Stellar: Relief bounce fades as bearish undertone persists

Stellar is trading around $0.16 at the time of writing on Thursday after rebounding more than 8% in the previous day. Derivatives data paints a negative picture as XLM’s short bets hit a monthly high while Open Interest continues to decline.

Nvidia delivers another monster earnings report, and forecasts big things to come

It was another monster earnings report from Nvidia for fiscal Q4. Revenues were $68.1bn, smashing estimates of $65bn. Gross profit margin was a healthy 75%, up from 73.5% in the prior quarter, and the outlook for this quarter was monstrous.

Solana Price Forecast: SOL strikes key resistance with double-digit gains

Solana trades at $88 at press time on Thursday, after an 11% upswing the previous day within a broader consolidation range of roughly three weeks. Institutional demand for Solana heightens as US spot SOL Exchange Traded Funds record $30 million of inflow on Wednesday.