EUR/USD: German Ifo business climate hits highest since May 2023

The source reports no EUR/USD price move, pip figure or technical levels. The focus is German business sentiment, which improved again in September, according to the Ifo survey. The headline business climate index rose to 89.9, beating the 89.1 expected and up from 88.8 prior. That is its highest reading since May 2023. The expectations index climbed to 90.4 against 89.3 expected, up from a prior revised to 89.0 from 89.1, marking its fifth consecutive monthly rise. The current assessment index rose to 89.5 versus 89.0 expected and 88.5 prior. All three components beat forecasts. This points to a broad improvement in how German firms view both present conditions and the outlook. The source also flags price concerns among businesses but gives no figures on them. For traders, the consistent beats offer fundamental support for the euro, since Germany is the eurozone's largest economy. The data may prompt closer attention to euro-area growth prospects.