Market Focus

On Friday, November 24, 2017, the number of news in the economic calendar will be quite small, which is due to the “Black Friday” in the US and early closure. Today, attention should be paid to the data on the IFO business climate index of Germany. This index measures the business mood and the conditions for doing business in the country. Good conditions for doing business will attract investors ready to invest in the country’s economy, which has a positive impact on its development and supports the national currency.

According to the forecast, the index will slightly decrease in November, to the level of 116.6, against the previous value at the level of 116.7. The release of data within the forecast will not have a significant impact on the single currency. In case of publication of data with a deviation of more than 5%, one should expect the euro to move within 30-40 points.

Alexander Sivtsov