The Germany IFO Business Climate came in at 94.6, topping expectations of 94.5 in October. The Germany IFO Current Assessment came in at 97.8, below forecasts of 98, while the Germany IFO Expectations registered at 91.5 beating expectations of 91 in October.
EURUSD adds about ten pips on the news up to daily high at 1.1120 but the pairs trading range today is only 20 pips. Traders are pleased by the small improvement in Ifo expectations. The common currency now faces the 100-day moving average strong resistance that needs a strong catalyst to breach.
EURGBP trading 0.24% higher at 0.8658 close to daily high a the pair continues the consolidation around recent lows after PM Boris Johnson is expected to propose general election by December 12th to break Brexit deadlock.