German Business Sentiment fell to 108.7

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Thursday, Dec 17 2015

Strong sentiment in the German economy weakened slightly this month. The Ifo Business Climate Index for German industry and trade fell to 108.7 points in December from 109.0 points in November. No change was expected. Assessments of the current business situation declined. Optimism about future business developments, by contrast, remained unchanged.

The index values for the business climate, situation and expectations are around three points above the respective levels seen in December 2014. The economic situation could hardly be better in the run-up to Christmas. In manufacturing the business climate index continued to rise. In wholesaling the business climate cooled down markedly. In construction the business climate index dipped slightly in December after the record high in November.

Euro is currently being traded around 1.0860 area. Pair is likely to find support around 1.08 handle and resistance above 1.09 level. Later today, in the US session, Unemployment Claims and Philly Fed Manufacturing Index figures are scheduled for a release.

More in this category: « Aussie lower, but losses could be limited UK Retail Sales increased 1.7% »

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