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