March’s German IFO index showed an increase, thus reaching 109,8 points. Analysts had anticipated 109,6. February’s readings were 109,7. It should be noted that the IFO index has been growing for 5 consecutive months.
March’s index of current business conditions reached 117,4 while experts had anticipated 117 points. The index of business expectations also grew up to 102,7 against the forecast of 102,6.
It should be noted that these indexes are calculated basing on the interviews given by over 7000 German managers of big-scale companies.
According to experts, EURUSD is trading within the 1.3350-1.3400 price range. A rally is restrained by a major stop volume formed around the 1.3374 high. Once the price breaks and consolidates below the current level of support, it may decline further down to 1.3300. Otherwise, a further movement within the range will be highly probable.
