Latest data released by Ifo - 27 January 2020
- Prior 96.3
- Expectations 92.9 vs 94.8 expected
- Prior 93.8
- Current assessment 99.1 vs 99.1 expected
- Prior 98.8
Slight delay in the release by the source. Business morale surprisingly falls - even the outlook - despite some green shoots in the economy recently.
This shows that economic sentiment isn't too overly optimistic and reaffirms the need for more consistency in the data to justify any potential recovery down the road.
The euro is being dragged lower on the report with EUR/USD slipping to a session low of 1.1017 currently. Risk is also turning softer again with US 10-year yields now down by 6 bps to 1.623% - dragging USD/JPY back under 109.00.
