Today at 04:00 am, there will be a high-impact news for the euro, German Ifo Business Climate, an index that is based on interviews with producers of manufacturing, wholesalers and retailers, includes about 7000 companies. The purpose of this index is to measure the confidence on economic activity. The estimated value is 85. Source: Ifo institute for economic research. Monthly, the news is high impact for the markets, especially if we have a different actual value from forecast. Even if it is based on firms operating in Germany, the effect is direct and guidance throughout the Eurozone. Companies have a clearer view of current market conditions, so this index is very indicative and observed by the forex market.