German Ifo Business Climate fell more than expected

wrapper

News
Analysis
- Fundamental
  
  Daily fundamental analysis
  
  Weekly fundamental analysis
- Technical
  
  Daily technical analysis
  
  Weekly technical analysis
Charts
Basic terms
Education
Calendar
Contact

Wednesday, Jun 24 2015

German business confidence fell for a second month in a sign of concern that the ripples from any Greek debt default would reach Europe’s largest economy. The Ifo institute’s business climate index dropped to 107.4 in June from 108.5 in May. Analysts were predicting decline to 108.2. While German economic growth is supported by record-low unemployment, uncertainty over the unity of the euro area is clouding the outlook.

Should the region’s governments fail to reach agreement with Greece on reforms to unlock bailout payments, the country could miss debt repayments and ultimately be forced out of the bloc.German investor confidence fell for a third month in June. Still, a purchasing managers index by Markit Economics published on Tuesday rose more than economists forecast, pointing to accelerating economic momentum.

Data did not have any major impact on the markets, with euro currently being traded higher few points above 1.1210 level. Pair is likely to find support around 1.1150 level, yesterday's low, and resistance above 1.1250 area. Later today, in the US session, Final GDP figures are scheduled for a release.

More in this category: « Gold prices flat on Wednesday morning Two or three issues remaining for Greece »

Latest from Editor

Popular

UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most…
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures…
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports…
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Menu

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.