German Ifo Business Climate rise to 108.5 in April

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Friday, Apr 24 2015

The Ifo Business Climate Index for German trade and industry rose to 108.6 points in April from 107.9 points last month. Analysts were predicting incline to 108.5. Assessments of the current business situation once again improved considerably. Optimistic assessments of the business outlook, however, were scaled back slightly. The upswing in the German economy continues.

In manufacturing the climate indicator rose for the sixth consecutive month, while in wholesaling the business climate indicator rose to its highest level in almost a year. This was due to far more optimistic business expectations. Furthermore, the business climate index in construction rose this month after six consecutive decreases. Contractors are markedly more satisfied with their current business situation. The short-term business outlook also brightened somewhat.

Data did not have any major impact on the euro which is currently being traded few points above 1.0880 level. Pair is likely to find support around 1.08 handle and resistance above 1.0930 area. Later today, in the US session, Durable Goods Orders figures are scheduled for a release.

More in this category: « Aussie testing 0.78 handle as a resistance Sterling broke above 1.51 handle ahead of US data »

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