German Ifo Business Climate - Economic Calendar - Strategia Forex
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German Business Climate Ha A Decent Impact on Eurozone Climate

German Ifo Business Climate

Business Climate Expected to Weaken Further in November

Starts Tuesday, November 24, 2020 at 09:00
Updated Wednesday, November 18, 2020
German business confidence slipped in July to its lowest level in more than six years. The Ifo institute said its business climate index dropped to 95.7 from an upwardly revised 97.5 in June. The July delivery undershot a forecast for 97.1. It was the fourth monthly drop in a row and the lowest level since April 2013. But, that was not all. The decline continued further and in August this indicator fell to 94.3 points, which shows the sentiment regarding the German economy at the moment. This indicator improved slightly to 94.6 points in September and remained there again in October, so the decline has stopped for now, which is a small positive sign. Although, October was revised to 94.7 points and in November it improved further  to 95 points. In December, this indicator was expected to jump to 95.6 points, but increased further to 96.3 points instead. Forecasts for January were for a further improvement, but it softened to 95.9 points due to the outbreak of coronavirus, while it fell to 87.7 points in March and to 74 points in April. But it started to improve in May and June as the economy reopened and it improved further to 93.4 points by September, but it cooled off in October and should decline further this month, as the new lock-downs in Europe are hurting the economy again. Please follow us for live coverage of this event by experienced market analysts. 

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About German Ifo Business Climate
Level of a composite index based on surveyed manufacturers, builders, wholesalers, services, and retailers. It is Released monthly, around 3 weeks into the current month. This survey is highly respected due to its large sample size and historic correlation with German and wider Eurozone economic conditions.
It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment.
It tends to create a hefty market impact upon release.
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Arslan Butt, Commodities & Indices Analyst Recent comment authors
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Arslan Butt, Commodities & Indices Analyst
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The Ifo Institute for Economic Research has just released the German Ifo Business Climate data at 95.9 rate, which failed to meet the economists’ expectations of 97.1. EUR/USD is under pressure now.

Arslan Butt, Commodities & Indices Analyst
Member

The EUR/USD is taking a bearish turn, falling 10/15 pips so far. It’s likely to head towards next support area of 1.006.

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