German IFO Business Climate Index rises to 95.0 in November, EUR/USD unmoved

German IFO Business Climate Index came in at 95.0 in November.
German IFO Current Economic Assessment stood at 97.9 in November.
German IFO Expectations Index arrived at 92.1 in November.

Dhwani Mehta FXStreet

The headline German IFO Business Climate Index came in at 95.0 in November, firmer than last month's 94.6 and meeting the consensus estimates pointing to a reading of 95.0.

Meanwhile, the Current Economic Assessment arrived at 97.9 points in the reported month as compared to last month's 97.8 and 97.9 anticipated.

On the other hand, the IFO Expectations Index – indicating firms’ projections for the next six months, came in at 92.1 for November, up from previous month’s 91.5 reading but missed market expectations of 92.5.

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 mixed IFO numbers served had virtually no impact on the Euro, leaving EUR/USD in the familiar range above 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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