IFO numbers fall short of expectations: the headline business climate stands at 107.4, the business expectations at 102 and the current assessment at 113.1 points. The miss on expectations is similar to the one seen with the ZEW figure.
EUR/USD is erasing some of the early gains: moving down from 1.1220 to 1.1210.
The IFO survey probably reflects the fears about Greece and was made before the recent optimism came into play.
The German IFO Business Climate indicator was expected to slide from 108.5 to 108.1 points in June. Business Expectations were predicted to slide from 103 to 102.5 and the Current Assessment carried expectations for a slide from 114.3 to 114.1 points.
EUR/USD traded around 1.12 towards the release, as hopes for a resolution on Greece remained strong, despite hurdles.
IFO is considered Germany’s No. 1 Think Tank. Last week, the ZEW figure fell short of expectations.
Later we have important data from the US. See how to trade the US final GDP with EURUSD.
