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26 Jan 2015
German IFO may come out stronger than consensus – Danske
FXStreet (Barcelona) - According to Danske Bank, today’s German IFO numbers may come out higher at 106.8, greater than consensus expectations at 106.3, with the strong ZEW numbers supporting this view.
Key Quotes
“We look for a stronger-than-expected increase to 106.8 (consensus 106.3) from 105.5 in December. The expectations index, which is the most leading part of the Ifo index, is also expected to beat expectations. Our positive view is based on a strong rise in ZEW, which has been a good leading indicator for Ifo and the German economy as a whole. ZEW rose strongly in January for the second month in a row.”
“The rise in sentiment is underpinned by new tailwinds from the rapid decline in the oil price and the sharp weakening of the euro. The sentiment hit from the Ukraine crisis is also fading.”
Key Quotes
“We look for a stronger-than-expected increase to 106.8 (consensus 106.3) from 105.5 in December. The expectations index, which is the most leading part of the Ifo index, is also expected to beat expectations. Our positive view is based on a strong rise in ZEW, which has been a good leading indicator for Ifo and the German economy as a whole. ZEW rose strongly in January for the second month in a row.”
“The rise in sentiment is underpinned by new tailwinds from the rapid decline in the oil price and the sharp weakening of the euro. The sentiment hit from the Ukraine crisis is also fading.”