Latest data released by Ifo - 24 June 2019
- Prior 97.9
- Expectations 94.2 vs 94.6 expected
- Prior 95.3
- Current assessment 100.8 vs 100.3 expected
- Prior 100.6
Slight delay in the release by the source. A measure of business conditions and sentiment/expectations towards the German economy. Do be reminded the Ifo changed the indicator measurement to take into account of services data too as of April 2018.
The readings are more or less in-line with estimates but they are weaker compared to the May readings for the most part. That's certainly not optimistic with the headline reading sitting at its weakest since November 2014.
Of note, Ifo says that German business morale has fallen in June with the economy "heading for the doldrums". Not exactly pretty words. EUR/USD holds steady around 1.1376 currently, just off highs of 1.1390 posted earlier in the session.
