German IFO Business Climate Index climbs to 87.5 in May vs. 87.4 expected

German IFO Business Climate Index beat estimates with 87.5 in May.
EUR/USD remains pressured above 1.1300 on German sentiment data.

Dhwani Mehta FXStreet

The headline German IFO Business Climate Index rose to 87.5 in May from 86.9 in April. The data came in slightly above the market forecast of 87.4.

Meanwhile, the Current Economic Assessment Index worsened to 86.1 during the same period from 86.4 in April, falling short of the estimated 86.8 reading.

The IFO Expectations Index, which indicates firms’ projections for the next six months, rose to 88.9 in May vs. 87.4 in April and 88 expected.

Market reaction to the German IFO Survey

EUR/USD keeps its range above 1.1300 following the mixed German IFO survey. When writing, the pair is trading 0.12% lower on the day.

Euro PRICE Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.10%	-0.06%	-0.40%	-0.03%	-0.23%	0.18%	0.00%
EUR	-0.10%		-0.16%	-0.50%	-0.12%	-0.32%	0.08%	-0.09%
GBP	0.06%	0.16%		-0.35%	0.04%	-0.14%	0.23%	0.05%
JPY	0.40%	0.50%	0.35%		0.38%	0.19%	0.56%	0.37%
CAD	0.03%	0.12%	-0.04%	-0.38%		-0.18%	0.21%	0.01%
AUD	0.23%	0.32%	0.14%	-0.19%	0.18%		0.39%	0.20%
NZD	-0.18%	-0.08%	-0.23%	-0.56%	-0.21%	-0.39%		-0.20%
CHF	-0.01%	0.09%	-0.05%	-0.37%	-0.01%	-0.20%	0.20%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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