Negative statistics from Germany dropped the euro

The euro rate, which showed growth in tandem with its main opponent, went down after the release of weak macroeconomic statistics from Germany. The current quote for the EUR/USD pair is 1.2145.

In particular, data from the IFO research institute reflected a decrease in the business climate index in Germany to 90.1 points compared to 92.2 points in December. At the same time, analysts had expected the indicator to decline only to 91.8 points.

The assessment of the current economic situation in the country in January also fell more than the forecast – to 89.2 points from 91.3 points in December. In addition, the country's business expectations index fell to 91.1 points against the December index of 93 points, while analysts predicted its growth.