We expect UB to trend downwards for the next 48 hours.

Based on the last 12 Ifo Business Climate events in Germany, we expect UB to trend downwards for the next 48 hours. Based on these past events there is a 75% chance of this. This may happen because the released value is > 98.2

Historical events that allowed us to draw this conclusion

26 Mar 09:00

22 Feb 09:00

24 Nov 09:00

25 Aug 08:00

27 Jul 08:00

25 May 08:00

All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).