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German IFO index beats forecasts but so far EUR/USD unimpressed
The October German IFO index has just been released and it has beaten expectations, rising to 86.5. The markets had expected a reading of 85.6. The reaction across the markets has not yet delivered a move higher in the EUR/USD, but the DAX has reacted positively to the report. So, as you can see, the PMI data seen yesterday has transposed into the better than forecast IFO report, but is it good enough? Well, sure it was a beat, but not exactly massive by any means. The EUR/USD is just now virtually unchanged, at 1.0822
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