German Ifo Survey Results Optimistic

Confidence among German businesses is holding up despite problems in the eurozone and other uncertainties, a survey by the Ifo institute suggests.

Its latest Business Climate Index inched up to 106.8 points in February from 106.7 points last month.
However, this was below forecasts, with worries over the situations in Greece and Ukraine affecting firms’ views of current trading conditions.
The Ifo survey assesses the views of about 7,000 firms in Germany.
Despite concerns over current trading conditions, the survey found that optimism about future prospects had improved.
“The German economy is proving robust in the face of geopolitical uncertainty,” said Ifo president Hans-Werner Sinn.
Figures released earlier this month showed that Germany’s economy – the largest in the eurozone – grew by 0.7% in the final quarter of 2014, comfortably beating analysts’ forecasts.
The latest Ifo figure of 106.8 was the highest since July last year, despite being below analysts’ expectations of 107.7.

via BBC

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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