Germany June IFO now out 26 June

  • 114.6 prev
  • expectations 106.8 vs 106.4 exp vs 106.5 prev
  • current assessment 124.1 vs 123.2 exp vs 123.3 prev up from 123.2

Decent enough data but euro pairs unfazed.

Say IFO:

  • pvt consumption remains crucial driver of growth
  • see further room for German export growth
  • EZ economic situation looking brighter
  • hopes for soft Brexit not yet a factor in IFO business sentiment
  • German Q2 GDP seen at 0.7%

German IFO business climate mm