German IFO Business Climate Index rises further to 88.4 in June vs. 88.3 expected
- German IFO Business Climate Index outpaces estimates with 88.4 in June.
- EUR/USD defends minor bids near 1.1600 on German sentiment data.
The headline German IFO Business Climate Index advanced to 88.4 in June from 87.5 in May. The data came in a tad higher than the market forecast of 88.3.
Meanwhile, the Current Economic Assessment Index improved to 86.2 during the same period from 86.1 in May but missed the expected 86.5 print.
The IFO Expectations Index, which indicates firms’ projections for the next six months, rose to 90.7 in June vs. 88.9 in May and 90 expected.
Market reaction to the German IFO Survey
EUR/USD defends small gains just below 1.1600 following the mixed German IFO survey. The pair is trading 0.09% higher on the day at the press time.
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.11% | -0.42% | -0.62% | -0.08% | -0.60% | -0.68% | 0.06% | |
| EUR | 0.11% | -0.35% | -0.56% | 0.02% | -0.48% | -1.00% | 0.18% | |
| GBP | 0.42% | 0.35% | -0.22% | 0.37% | -0.13% | -0.66% | 0.38% | |
| JPY | 0.62% | 0.56% | 0.22% | 0.56% | 0.00% | -0.08% | 0.58% | |
| CAD | 0.08% | -0.02% | -0.37% | -0.56% | -0.52% | -1.03% | 0.00% | |
| AUD | 0.60% | 0.48% | 0.13% | 0.00% | 0.52% | -0.52% | 0.52% | |
| NZD | 0.68% | 1.00% | 0.66% | 0.08% | 1.03% | 0.52% | 1.04% | |
| CHF | -0.06% | -0.18% | -0.38% | -0.58% | -0.01% | -0.52% | -1.04% |
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.
