25 Nov 2015
German IFO surprised to the upside – Swissquote
FXStreet (Delhi) – Arnaud Masset, Market Analyst at Swissquote Bank, notes that the German IFO business climate index surprisingly jumped to 109 in November, the highest level since July 2014, from 108.2 in the previous month.
Key Quotes
“The German economy seems to have weathered the end of summer slump pretty well and the outlook looks great especially given the fact that the weaker euro will provide an extra boost to the economy.”
“The single currency recovered in the Asian session and rose 0.32% versus the dollar, bringing EUR/USD back above the 1.0650 threshold. However, we still believe that there is further room for euro depreciation.”
Key Quotes
“The German economy seems to have weathered the end of summer slump pretty well and the outlook looks great especially given the fact that the weaker euro will provide an extra boost to the economy.”
“The single currency recovered in the Asian session and rose 0.32% versus the dollar, bringing EUR/USD back above the 1.0650 threshold. However, we still believe that there is further room for euro depreciation.”