The euro is up slightly on Thursday. In the North American session, EUR/USD is trading at 1.0863, up 0.22% on the day at the time of writing.
German business climate slips to 5-month low
Germany continues to post weak data this week. Once the locomotive of Europe, Germany’s economy has struggled, earning it the dubious label ‘the sick man of Europe’. The Ifo Business Climate index eased in July, as pessimism has increased about the health of the economy. The index dropped from 88.6 to 87, shy of the market estimate of 88.9 and the lowest level since February. Ifo president Clemens Fuest said that the report indicates that “the…