The Ifo index, which measures confidence in Germany, rose to 91.8 in April surprisingly, compared to 90.8 in the March reading, while it was expected to decline to 88.3, ignoring the impact of the German economy on the effects of the Russian-Ukrainian war.
In details, the current situation index rose to 97.2 compared to 97 in March, while the expectations index also rose to 86.7 from 85.1 in March, with expectations of stagflation rising due to the rise in commodity and energy prices.
The euro is trading at 1.0750 levels against the US dollar, about 30 points higher, after the statement was announced, after it tested 1.0720 levels with a loss of more than 80 points since the opening of the session, trading at its lowest level since March 2020.star_border
28/06/2024
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