German IFO Business Climate Index steady at 94.6 in October; EUR/USD ticks higher to 1.1115
|- German IFO Business Climate Index holds steady at 94.6 in October.
- German IFO Current Economic Assessment stood at 97.8 vs. 98.6 last.
- German IFO Expectations Index climbs to 91.5 vs. 91.0 expected.
The headline German IFO Business Climate Index came in at 94.6 in October, same as recorded in the previous month but was slightly better than consensus estimates pointing to a reading of 94.5.
Meanwhile, the Current Economic Assessment arrived at 97.8 points for the reported month as compared to last month's upwardly revised reading of 98.6 and slightly below 98.0 anticipated.
On the other hand, the IFO Expectations Index – indicating firms’ projections for the next six months –jumped to 91.5 for October, up from previous month’s 90.9 and beating market expectations of 91.0.
The mostly upbeat IFO numbers provided a minor lift to the shared currency, lifting the EUR/USD pair to fresh session tops, around the 1.1115-20 region.
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