German Ifo Is Up

24.11.2009 06:15

German Ifo Is Up

The euro edged up against the dollar and Bund futures pared gains on Tuesday after German Ifo data came in higher than anticipated.

German Ifo institute's business climate index was at 93.9 in November compared with forecasts for 92.5. The October reading was revised 92.0 from 91.9. Current conditions index came in at 89.1 versus forecasts of 88.0.

The euro rose to around $1.4937 from around $1.4918 before the data EUR=, and was off from the day's low of $1.4889.

Euro zone goverment bond prices pared gains, with Bund futures FGBLc1 slipping to 122.60 from a pre-data level of 122.68. The contract was last at 122.65, up 20 ticks on the day.

The two-year Schatz yield EU2YT=RR was at 1.343 % versus 1.340 % before the data, according to Reuters' report.

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