The Ifo index measuring confidence in Germany rose to 91.1 in February compared to 90.2 in January’s revised reading to match expectations. In detail, the current situation index fell to 93.9, while the expectations index rose to 88.5 from 82.0.
On the other hand, figures issued by the Federal Bureau of Statistics, Destatis, showed an increase in the CPI inflation index in Germany, in the final reading, to 8.7% on an annual basis in January, compared to 8.1% in December, while the index stabilized at 1% on a monthly basis.
During today’s session, the markets are awaiting the US Federal Reserve’s minutes of its previous meeting on the first of February, which is issued two weeks after each meeting, to clarify what took place in the meeting in which the Fed decided to raise interest rates by 25 basis points.
The Fed minutes are gaining importance after the statements of the US Federal Reserve members last week, which were strict and supportive of a stronger hike in interest rates in the previous meeting, and will shed light on the extent of the division of the Fed members in the last meeting over interest rates.
The euro is trading at 1.0645 levels against the US dollar, on the decline, coinciding with the opening of the European markets with the rise of the US dollar.
01/11/2024
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