German IFO expectations index likely to decline – Danske Bank

It will be a fairly thin data calendar today, where the main release will be German ifo expectations and analysts at Danske Bank expect it to decline.

Key Quotes

“The decline in the German manufacturing PMI suggests the ifo expectations index will decline and, in our view, there is downside risk to consensus expectations. Although the figure is expected to remain at an elevated level, a continued downward trend could support a softer tone from the ECB following its renewed focus on growth.”