German IFO’s Economist: Economy looking towards upswing

Following the release of the final German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that the economy is looking towards an upswing.

Additional quotes

“Climate has improved in construction, retail and services.”

“Climate improvement especially pronounced in industry.”

“Production plans revised upward significantly.”

“Travel agencies and tour operators slightly optimistic for first time in more than a year.”

EUR/USD bounces-back above 1.2100

EUR/USD is resuming its upward momentum, having recaptured the 1.2100 level on upbeat German IFO survey.

The spot currently trades at 1.2109, reversing losses so far.