News Headline Summary

German IFO Business Climate (Jul) M/M 106.2 vs. Exp. 106.1 (Prev. 105.9)

- German IFO Current Assessment (Jul) M/M 110.1 vs. Exp. 109.7 (Prev. 109.4)
- German IFO Expectations (Jul) M/M 102.4 vs. Exp. 102.5 (Prev. 102.5)

Says:
- Firms remain cautiously optimistic.
- Conditions in German economy remain fair.

IFO economist Wohlrabe says:
- German economy is in catch-up phase after weak Q1 and Q4 2012.
- Germany economy is suffering from weakness in other eurozone states and China.
- Expects Q2 growth of 0.9% in Germany, 0.4% in Q3 and also in Q4, 0.6% FY.

Reaction details:

- In the immediate reaction, EUR/USD rose 11 pips from 1.3226 to 1.3237, DAX index rose 7 points from 8334.50 to 8341.50 and Bunds fell 1 tick from 142.34 to 142.33; however, all the moves were immediately pared.

Print 08:00, 25 Jul 2013 - EU Data - Source: Newswires