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May 24th 2006

Ifo Data Stronger than Expected

The latest Ifo survey released earlier today showed only a slight dip in German business expectations. The index dropped from its 15-year high 105.9 in April to 105.6 in May, much better than most had expected. While the Ifo may slip more in the coming months, a sharp dropoff is unlikely, as most believe the German economy should gain momentum later in the year. Forbes reports:

‘The smaller than expected drop in the index will help the euro to sustain its gains and will do little to dissuade many in the market who look for the ECB to hike by 50 basis points next month,’ said Mitul Kotecha.

Read more: Euro remains firm after strong Ifo data; market awaits US data

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Posted by Adam Kritzer | in Economic Indicators, Euro | 1 Comment »

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One Review of “Ifo Data Stronger than Expected”

  1. aqit1234 Says:

    i have USD and have to buy euro to return my loans to the bank. Unfortunately the rate which I have baught the USD was 1.203 and I am loosing a lot of money. Please advise what action shall I take? Shall I buy the euro to return the loan at once or to buy euro and keep until it weaked against USD or to wait without doing anything.
    Regards

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