German IFO Business Climate Index rises to 94.6 in September, EUR/USD stays below 1.10

German IFO Business Climate Index came in at 94.6 in September.
German IFO Current Economic Assessment stood at 98.5 in September.
German IFO Expectations Index arrived at 90.8 in September.

Dhwani Mehta FXStreet

The headline German IFO Business Climate Index came in at 94.6 in September, firmer than last month's 94.3 and beating the consensus estimates pointing to a reading of 94.5.

Meanwhile, the Current Economic Assessment arrived at 98.5 points in the reported month as compared to last month's 97.3 and 97.0 anticipated.

On the other hand, the IFO Expectations Index – indicating firms’ projections for the next six months, came in at 90.8 for September, down from previous month’s 91.3 reading and missed market expectations of 91.8.

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.

The downbeat IFO numbers served had virtually no impact on the Euro, leaving EUR/USD in the familiar range below the 1.10 handle.

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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