Market Update: German IFO Business Climate Slips to 99.1 (est 100.7, prev 101.0)

Fellas, the German IFO (Information and Forschung) Business Climate is a survey of about 7k businesses which asks respondents to rate the relative level of current business conditions and expectations for the next 6 months.

Why is it important?

This survey is highly respected due to its large sample size and historic correlation with German and wider Eurozone economic conditions. It tends to create a hefty market impact upon release. They survey changed series from the base year of 2000 to the base year of 2005, as of May 2011, and changed series to include services, as of April 2018.

Results

• German IFO Business Climate (Jan): 99.1(est 100.7, prev 101.0)
• German IFO Business Expectations (Jan): 94.2(est 97.1, prev 97.3)
• German IFO Current Assessment (Jan): 104.3(est 104.2, prevR 104.9)

According to IFO (Information and Forschung), the German business morale falls in January IFO as German economy is experiencing a downturn. The EUR/USD has a muted response to the news release so far.