Release Explanation: The Information und Forschung (Information and Research) report is based on a monthly survey from firms in manufacturing, construction, wholesaling and retailing. The firms are asked to give their assessments of the current business situation and their expectations for the next six months.

Trade Desk Thoughts: The German IFO business climate fell slightly lower, to 82.6. This is the first time in the last 6 months the German business expectations has shown signs of stabilizing. A similar thing was observed in the Zew release, earlier this month, pointing to some improvements in February. In the past months, the IFO release hit an all-time low.

Forex Technical Reaction: The euro jumped 20 pips immediately after the release. Since the new trading day started, the euro has advanced 40-pips.