• 107.4 prev
  • current conditions 112.2 vs 111.6 exp vs 111.3 prev
  • expectations 106.3 vs 104 exp vs 103.6 prev

Euro higher on better reading

EURUSD 1.3525 EURGBP 0.8342 EURJPY 136.61

Add:

  • IFO economist Wohlrabe says stimulus in EZ and world economy can be seen in exporter expectations
  • domestic demand remains stable especially for capital goods

( EU probe into German c/a surplus take note of that last one ! )

  • Germany should benefit mid-term from ECB rate cut giving stimulus to other EZ countries