When is German IFO and how this could affect EUR/USD?
|German IFO Business Climate Overview
The German Ifo surveys for March are lined up for release later today at 8GMT. The headline Ifo Business Climate Index is expected to stay unchanged at 111 in March. The Current Assessment sub-index is seen a tad weaker at 118.3 this month, while the Ifo Expectations Index – indicating firms’ projections for the next six months – is expected to show a mild improvement and could come in at 104.3 in March, as compared to February’s 104.0 reading.
Deviation impact on EUR/USD
Readers can find FX Street's proprietary deviation impact map of the event below. As observed the reaction is likely to remain confined between 3 and 40 pips in deviations up to 2.4 to -3.2, although in some cases, if notable enough, a deviation can fuel movements of up to 60 pips.
How could affect EUR/USD?
The German IFO Surveys are expected to show mixed results across all indicators, which stall the recent bullish streak in the EUR/USD pair, while an upside surprise in the headline numbers could send the rate above 1.0900 levels, fresh 2017 highs.
Key notes
German IFO and retail sales amongst market movers today – Danske Bank
“German Ifo expectations are also due to be released Today. Ifo expectations saw a fall in January to 103.2 from 105.5 in December 2016, but increased to 104.0 again in February.”
About German IFO Business Climate
This German business sentiment index released by the CESifo Group is closely watched as an early indicator of current conditions and business expectations in Germany. The Institute surveys more than 7,000 enterprises on their assessment of the business situation and their short-term planning. The positive economic growth anticipates bullish movements for the EUR, while a low reading is seen as negative (or bearish).
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