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German IFO below forecasts on all counts September- EUR/USD unmoved
The September German IFO index has now been released. Perhaps somewhat surprisingly, the markets were only expecting a modestly lower set of readings in this data. Well, it has fallen below the forecast range, on all counts. The EUR/USD was pushing higher ahead of this report, rising back to just above 1.1130 versus the dollar and back above that 0.8333 level versus the Pound. The impact of this report has not seen the Euro fall and perhaps because, despite being below forecasts, it was not massively so. The EUR/USD is largely unchanged as we await the commentary from the IFO institute accompanying this data. The EUR/USD is just now at 1.1132
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