The ifo May data is something of a mixed bag. The business climate index came in at 84.2, up from 83.7 in April, but worse than the median forecast of 85.0.
Current conditions index came in at 82.5, down from 83.5 in April, and worse than the median forecast of 84.0.
On the plus side, the expectations index came in at 85.9, up from 83.9 in April, and slightly better than the median forecast of 85.9.
Ifo says manufacturers reporting clearly poorer business situation than in April. Say retailers not as dissatisfied with current business situation.
EUR/USD is relatively steady at lower levels, presently at 1.3965.
