Business sentiment in Germany wanes in November. Supply chain issues, cost pressures, and new COVID-19 cases are unlikely to ease any time soon...
Following November’s prelim private sector PMIs on Tuesday, German business sentiment was in focus this morning.
For November, the Ifo Business Climate Index fell from 97.7 to 96.5 versus a forecasted 96.6.
According to the November survey,
By Sector, the Ifo Business Climate by sector moved were follows:
Ahead of today’s stats, the EUR had risen to a pre-stat and current day high $1.12552 before hitting reverse.
In response today’s business sentiment figures, the EUR fell to a post-release and current day low $1.12036.
At the time of writing, the EUR was down by 0.32% to $1.12122.
Inflation, jobless claims, core durable goods, personal spending, and 3rd quarter GDP numbers.
Late in the day, the FOMC meeting minutes will also garner plenty of interest.
Another spike in the FED’s preferred core PCE price index could test support for riskier assets. Economists have forecasted a pickup from 3.6% to 4.1%.
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.