German IFO Business Climate Index misses estimates with 93.4 in Sept, EUR/USD unfazed
|- German IFO Business Climate Index came in at 93.4 in September.
- IFO Current Economic Assessment stood at 89.2 this month.
- September German IFO Expectations Index arrived at 97.7.
The headline German IFO Business Climate Index came in at 93.4 in September, stronger than last month's 92.6 while missing the consensus estimates pointing to a reading of 93.8.
Meanwhile, the Current Economic Assessment arrived at 89.2 points in the reported month as compared to last month's 87.9 and 89.5 anticipated.
On the other hand, the IFO Expectations Index – indicating firms’ projections for the next six months, came in at 97.7 for September, up from the previous month’s 97.5 reading and weaker than the market expectations of 98.0.
About German IFO
The headline IFO business climate index was rebased and recalibrated in April after the IFO research Institute changed series from the base year of 2000 to the base year of 2005 as of May 2011 and then changed series to include services as of April 2018. The survey now includes 9,000 monthly survey responses from firms in the manufacturing, service sector, trade and construction.
Market reaction
EUR/USD keeps its recovery mode intact near 1.1665 on downbeat mixed German IFO data, in light of broad US dollar retracement. The spot is up 0.07% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.