Overview of the IFO business climate index in Germany
FXStreet — The IFO survey of Germany for may will be released at 10:00. The IFO business climate index is expected to rise in may to 113.1, after which he was in the last month was 112.9. The Current Situation is expected to improve to 121.2, and the business prospects to be cut according to the forecast of 105.4 something better than the 105,2 before.
Impact on the EUR/USD
Below you can see the possible impact on the FXStreet Tool to the standard deviation. The reaction will probably be limited to 3-40 Pips in a deviation of 2.4 up to 3.2, while a movement of up to 60 Pips in the tip, if the full deviation.
How might this affect the EUR/USD?
The IFO business survey should deliver in all respects and with better results than the current forecasts, the EUR/USD can rise in the direction of the new 2017 High, which was yesterday, formed in 1,1263. On the other hand, a disappointing reading, it can lead to a decrease in sub-1,1200 to the commandments of the 1,1160 support (Tief 22. To test in may).
The IFO business climate index in Germany
The German business climate index, by the CESifo Group is an early indicator of current conditions and business expectations in Germany is released to be exact. The Institute surveys more than 7,000 enterprises on their assessment of the business situation and their short-term planning. Positive economic growth is bullish for the EUR, while a low reading is seen as negative (or bearish).
** FXStreet News Editorial, FXStreet**