News Headline Summary

German IFO Business Climate (Nov) M/M 101.4 vs. Exp 99.5 (Prev. 100.0)

- IFO Current Assessment (Nov) M/M 108.1 vs. Exp. 106.3 (Prev. 107.3)
- IFO Expectations (Nov) M/M 95.2 vs. Exp. 93.0 (Prev. 93.2)

- German IFO are commenting that the German economy is holding up despite the economic crisis.

Reaction details:

- In immediate reaction to the better than expected data release:
- Dax moved to the upside from 7222 to 7240.
- Bund future dropped from 142.43 to 142.29.
- EUR/USD moved 28 pips to the upside from 1.2876 to 1.2904.

Print 09:02, 23 Nov 2012 - EU Data - Source: Newswires