German Business Confidence Falls As Euro Appreciates

Confidence among German businesses showed an unexpected fall in October as concerns over a strong euro and a U.S. government shutdown resolved earlier this month took their toll.

The widely watched Ifo business climate data for Germany, the first drop in six months, showed business morale fell to 107.4 from 107.7, missing forecasts.

Firms assessed their business outlook slightly less optimistically than last month and were also less positive about the current business situation, but the figures remain above average.
“The German economy has not yet moved fully into gear,” the Munich based think tank which releases the data said in a press release on Friday.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza