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German Business Climate reached its highest level since July 2014

Wednesday, Mar 25 2015
The Ifo Business Climate Index for German trade and industry rose to 107.9 points in March from 106.8 points last month. Analysts were anticipating smaller increase to 107.4. The index reached its highest level since July 2014. Companies were more satisfied with their current business situation. They also expressed far greater optimism about future business developments. The German economy continues to expand. 
 
In manufacturing the climate indicator rose once again. Manufacturers were more satisfied with their current business situation. In wholesaling the business climate also improved. Assessments of the current business situation were far more favourable, while wholesalers scaled back their slightly optimistic business expectations. In retailing the business climate also continued to brighten, while in construction, by contrast, the business climate indicator continued to fall, but remains at a high level. 
 
However, after the data euro fell and is currently being traded few points above 1.0940 level. Pair is likely to find support around 1.4880  and resistance above 1.10 area. Later today, in the US session, Durable Goods Orders figures are scheduled for a release.
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