German Ifo Business Climate rose to 106.7

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Monday, Jan 26 2015

German Ifo Business Climate increased to 106.7 in January. This was in line with market forecasts. Index now rose for the third consecutive month. Companies were far more satisfied with their current business situation and the majority was also optimistic about the business outlook. The German economy makes a good start to the year.

In manufacturing the business climate indicator rose for the third month in succession, while in wholesaling the business climate continued to improve. On the other hand, in construction the business climate deteriorated slightly. Contractors were somewhat less satisfied with their current business situation, but the six-month business outlook brightened marginally.

After the data euro edged higher and is currently being traded around 1.1220 level. Pair is likely to find support around 1.1150 and resistance above 1.1280 area. We can expect a steadier rest of the session with no data releases from USA.

More in this category: « BoE Forbes said rate hike could happen sooner than expected Greece turning page with Syriza »

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