DAX Index Rose After Strong Ifo Data

Forex News

Germany's DAX stock index rose by 0.50% and is trading at 12.275.00. The DAX fell by 2.7% since June 1, as the strength of the euro had an impact on shares of exporters. Economic data from Germany showed that import prices fell by 1.1%.

The results of the Ifo survey also showed that German Business Climate rose to 116.0 in July. It was expected that the estimate would drop to 114.9. The index of current conditions in July rose to 125.4, whereas it was expected that it would drop to 123.8.

Today begins a two-day meeting of the US Federal Reserve. It is expected, that the monetary policy of the bank will remain unchanged. The US economic indicators were mixed in the second quarter, and inflation remained well below the Fed's target of 2%.