German IFO Business Climate Index improves to 86.3 in November

The headline German IFO Business Climate Index climbed to 86.3 in November versus the previous reading of 84.5 and the market consensus of 85.0.

Meanwhile, the Current Economic Assessment improved to 93.1 points in the reported month when compared to October’s 84.2 and 93.8 expected.

The IFO Expectations Index – indicating firms’ projections for the next six months, rose to 80.0 in November from the last month’s 75.9 and against the estimates of 77.0.

EUR/USD shrugs off the upbeat German IFO survey. At the time of writing, the pair is trading at 1.0412, up 0.19% on the day.