Filter by Categories
Watch Series
The Great Game
Daily Post
Steno Signals
Free Content
Emerging Markets
Video

Ifo Nugget: Now good news are bad news

With today’s release of the total Ifo data from the manufacturing sector we wanted to quickly touch upon the main data points we are looking at. We particularly note that good news in Germany, is now bad news for the EUR, since an uptick in the industry means more gas buying, which in turn means more FX outflow.
2023-09-27

Overall the release showed that the business climate in the manufacturing sectors rose a bit while services fell for the sixth time in a row. The slight sentiment improvement in manufacturing was due to rate expectations and real wage increases which potentially could lead to an uptick in spending. 

Chart 1: The Ifo clock didn’t pour more gasoline on the recession fire 

 

With today’s release of the total Ifo data from the manufacturing sector we wanted to quickly touch upon the main data points we are looking at. We particularly note that good news in Germany, is now bad news for the EUR, since an uptick in the industry means more gas buying, which in turn means more FX outflow.

To read the full article, sign up for a 14-day FREE trial of the Premium plan.

0 Comments