In at 106.2 vs median forecast 101.6. EUR/USD shoots back over 1.2900, presently at 1.2910.

Expectations 105.5 vs median forecast of 101.6. Current conditions 106.8 vs median forecast 101.7

If0’s Abberger:

  • Improvement coming from all sectors, including industry, construction and trade
  • Drinks sector has benefitted from heat wave and World Cup
  • There are signs however the economy could be more subdued in the second half of year
  • Also in industry, job cutting has been ceasing
  • Strong euro forex swings proving difficult for firms, but export optimism similar to previous month’s level
  • Main interest rate at proper level in view of austerity plans in Europe