Market Insight: Euro Surges Following Ifo Data Release

Forex - The Euro strengthened against the Dollar after business expectations in Germany came in slightly above predictions. The Ifo Business Expectations Index decreased to 87.2 in November from 87.3 in October, but it was above the economists' forecast of 87.0 in the WSJ survey. The Business Sentiment Index fell to 85.7 in November from 86.5 in October, compared to the forecast of 86.1. Capital Economics economist Franziska Palmas stated, “The reading confirms that the German economy is still struggling.” Following the data release, the Euro rose from $1.0465 to $1.0479.