More downside coming from German IFO expectations – TD Securities

TD Securities recently released its report ahead of the European session on Monday. The bank anticipated a small decline in the German IFO data with more downside coming from expectations as it says:

We look for a small decline in the headline to 97.3 in June, with more downside coming from expectations as the expectations component of the PMI survey sank to a nearly 5-year low.

As per the market consensus June month German IFO Business Climate could dip to 97.3 from 97.9 while the Expectations may soften to 94.5 from 95.3. As a result, the IFO Current Assessment is expected to come in at 100.00 versus 100.60.