Ifo Institute for Economic Research (latest release)

Measures Level of a composite index based on surveyed manufacturers, builders, wholesalers, and retailers;

Usual Effect Actual > Forecast = Good for currency;

Frequency Released monthly, around 3 weeks into the current month;

This survey is highly respected due to it’s large sample size and historic correlation with German and wider Eurozone economic conditions. It tends to create a hefty market impact upon release;

Why Traders Care It’s a leading indicator of economic health – businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment;

Derived Via Survey of about 7,000 businesses which asks respondents to rate the relative level of current business conditions and expectations for the next 6 months;