Among the first will be published the Index of the business climate IFO Germany with a preliminary forecast of 112.9. The index will show the degree of confidence of producers, construction companies, wholesale and retail trade enterprises in the future of the country and the EU as a whole, since Germany is the largest economy of the euro area. If the publication exceeds expectations, then the confidence of entrepreneurs has increased, which will contribute to the growth of the euro. The disappointing indicator will become an indicator of the decline in confidence, against which the euro’s rate will fall.
In the UK there will be a Hearing Report on inflation, which is of particular interest to traders, as they are able to give markets an idea of the economic climate in the UK after Brexit. Continue reading