The German Ifo Institute Business Climate survey, which is based on a survey of more than 9,000 companies in the manufacturing, services, trade and construction sectors, showed an improvement in June at the highest pace in more than two years, according to data released this morning, Thursday, June 24, registering 101.8 points, compared to 99.2 Point in May to come better than expectations, which indicated a rise to 100.5 points.

The reopening in Germany and the companies’ optimism about the current conditions and future expectations boosted the index’s rise to its highest level since November 2018, as the expectations component rose to 104 points in June, compared to 102.9 points, while the current business situation index rose to 99.6 compared to 95.7 points.

The euro is trading at 1.1928 levels against the US dollar with the beginning of the European session today, Thursday, down from its highest level during the session.