FX : German Ifo rises above expectations in August; Euro spikes up
FXstreet.com (Barcelona) - Business conditions have improved above expectations in Germany in August, according to the Ifo Index, which rose to 90.5 from 87.3 in July, beating experts expectations of a reading around 89.0, showing furthe3r signs of recovery on Euro Zone's main economy.
The Assessment about the current economic conditions, has improved to 86.1 in August from 84.3 in July, and the business expectations rose to 95.0 in August from 90.4 in July.
EUR/USD has risen from levels right above 1.4300 to 1.4350 moments after Ifo data was released, although the pair has been rejected at the mentioned level and drops to previous prices, around 1.4315.
