German Ifo business climate rises more-than-expected in February

Forex Pros – German business confidence rose more-than-expected in February, rising to the highest level since German reunification, data showed on Monday.

In a report, the German research institute, Ifo said its Business Climate Index rose to a seasonally adjusted 111.2 in February, after advancing to 110.3 in January.

Analysts had expected the index to rise to 110.4 in February.

According to the data, the Current Assessment Index rose to 114.7 from 112.8, while the Business Expectations Index climbed to 107.9, up from 107.8 in January.

Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD adding 0.04% to hit 1.3699.

Meanwhile, European stock markets were mixed. The EURO STOXX 50 shed 0.11%, France's CAC 40 gained 0.14%, the FTSE 100 was up 0.25%, while Germany's DAX edged up 0.08%.

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