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Slightly better German IFO fails to lift the DAX
The January reading of the German IFO business climate index has just been released and no real surprise to see it has just bettered on expectations. The index rose to 85.1, where the markets were forecasting a slight rise, to 84.8. All the other components have come out modestly ahead too. The reaction across the markets has been dull and quite honestly that is no surprise. The EUR/USD had already risen to around 1.0485 heading into this data and that means it could be kind of priced in. Besides the markets are more concerned elsewhere and right now the buzz is also about AI, DEEPSEEK and US stock futures grabbing the limelight. So, the DAX is not bouncing on this IFO data, it is in fact edging lower after it. The index is right now at 21,145
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