Reuters with sight of documents noting some changes to IFO calculations 6 April
- effective from April
- will rebase 2005-15 index
- will now include services sector in calculations
- changes will take place from 24 April release
- March index changes to 103.2 vs 114.7 under the new methodology
Just a heads up for when the next release comes out and you're scratching your heads as to why it's so wide of the previous mark
IFO surveys around 7000 firms for its business climate index which in March fell to its lowest level in almost a year with company bosses more concerned about rising threat of protectionism.
Meanwhile EURUSD has a test of the 1.2260 offers/res before retreating. EURJPY still underpinned but offers on both core pairs helping to cap.
