German IFO Expectations Index jumps to 100.4 in March vs. 95.2 expected, EUR/USD uninspired
|- German IFO Business Climate Index came in at 96.6 in March.
- IFO Current Economic Assessment stood at 93.0 this month.
- March German IFO Expectations Index arrived at 100.4.
The headline German IFO Business Climate Index continued to improve and arrived at 96.6 in March versus last month's 92.4, beating the consensus estimates of 93.2 by a big margin.
Meanwhile, the Current Economic Assessment arrived at 93.0 points in the reported month as compared to last month's 90.6 and 91.3 anticipated.
The IFO Expectations Index – indicating firms’ projections for the next six months, climbed to 100.4 in March from the previous month’s 94.2 reading and better than the market expectations of 95.2.
Market reaction
EUR/USD keeps its range around 1.1785 on upbeat German IFO data, struggling to extend its recovery momentum ahead of the US data.
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.
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