Ifo Business Climate Indicator (09.00 BST) would follow the decline in ZEW investor sentiment this month and suggest that the Greek crisis is having an effect on the confidence of businesses as well as that of financial markets. Note, though, that like other business indicators, the Ifo is likely to remain consistent with a continued healthy recovery of the German economy for the time being at least. “The fall in the German composite PMI in April has led us to expect a similar small decline in the Ifo Business Climate Indicator, from 107.9 to about 107.0.” – says Capital Economics
The material has been provided by InstaForex Company – www.instaforex.com