German IFO Business Climate Index unexpectedly rises to 85.1 in January vs. 84.6 expected

• German IFO Business Climate Index beats estimates with 85.1 in January.
• The IFO Current Economic Assessment Index rose to 86.1 in the reported month.

The headline German IFO Business Climate Index increased to 85.1 in January from 84.7 in December. The data came in above the 84.6 forecast.

Meanwhile, the Current Economic Assessment Index rose to 86.1 in the same period from 85.1 in December, beating the expected 85.4 reading.

The IFO Expectations Index, which indicates firms’ projections for the next six months, eased to 84.2 in January vs. 84.4 in December and 84 anticipated.

Market reaction to the German IFO Survey

EUR/USD holds the recovery gains following the upbeat German IFO survey. When writing, the pair is trading 0.05% higher on the day at 1.0485.