German Ifo Business Climate Index Stands At 108.5 In May, EURUSD Continues Rising !

Forex G trade
Forex G trade

The German Ifo Business Climate Index rates the current German business climate and measures expectations for the next six months. It is a composite index based on a survey of manufacturers, builders, wholesalers and retailers. The index is compiled by the Ifo Institute for Economic Research.

The German Ifo Business Climate Index fell from 108.6 to 108.5 in the previous month, passing forecast 108.3 .

This development should keep EURUSD in recovery mode , further gains are likely towards the 1.1215 levels where a breach will turn focus on the 1.1330 levels.

On the downside, Immediate support comes at the 1.1144 levels ahead of the 1.1061 levels (main)…….