German IFO Business climate beat with 108.2 points and also expectations were better than predicted with 103.8 instead of 102.4, even better than the previous month that saw 103.3. There was one disappointment from the Current Assessment component: it dropped from 114 to 112.6, worse than 113.3 predicted.

EUR/USD made a small move to the upside but it didn’t go too far. After the initial rise, we are seeing the pair slide back down.

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