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Euro starts week with a yawn
February 22, 2021SharePrint
The euro has posted small gains in the Monday session. Currently, EUR/USD is trading at 1.2127, down 0.11% on the day.
German Business Climate improves
German data started the week on a positive note. The Ifo Business Climate improved to 92.4 in February, up from an upwardly revised 90.3 in January. This beat the estimate of 90.5 and marked a 4-month high. The Ifo institute statement noted that the German economy is performing well despite the lockdown “mainly because of the strong industrial economy”. Germany’s Manufacturing PMIs have been well into expansionary territory, and the January read improved to 60.6, its highest level since January 2018.