Germany July Ifo business climate index 90.5 vs 89.3 expected

Latest data released by Ifo - 27 July 2020

• Prior 86.2
• Expectations 97.0 vs 93.4 expected
• Prior 91.4
• Current assessment 84.5 vs 85.0 expected
• Prior 81.3

Slight delay in the release by the source. The headline beats estimates slightly and there are continued improvements in the expectations and current assessment portion.

This feeds into more optimism of a rebound in Q3 but once again, tells little about how things are going to be later in the year as the economy adjusts to the "new normal".

EUR/USD keeps little changed around 1.1700 but the release here certainly does give something for euro bulls to chew on if they would want to in terms of near-term expectations on the recovery in the euro area.